The recent practical advances realized by Artificial Intelligence, have also given rise to the phenomenon of deepfakes, which can be considered as a form of fake news. Deepfakes is the phenomenon of creation of realistic digital products, and a plethora of videos have emerged over the last two years in social media. Especially the low technical expertise and equipment required to create deepfakes means that such content can be easily produced by anyone and distributed online. The societal implications are significant and far-reaching. This work investigates the deepfakes via multi-angled perspectives that include media and society, media production, media representations, media audiences, gender, law, and regulation, as well as politics. The investigation is carried out both via document research as well as a survey that provides empirical research data, that are scarce in the area. The results provide new insights and shed light on the key implications of these perspectives, which are identified and critically discussed. The results indicate that as a society, we are not ready to deal with the emergence of deepfakes at any level. That we have not witnessed any severe impacts so far is due to their early stage of development, which still shows imperfections. To address the problematic aspects of deepfakes, a combination of technology, education, training, and governance are urgently needed.