1. (noun) A news story that you feel compelled to share with your friends, especially one that is funny and/or gross.
2. (adj.) The most outrageous story you heard in a given period of time.
3. (noun) A news parody written to intentionally mimic an actual example of 1 or 2.
"Did you see the discust about the panda eating her baby?"
"The discust of the week had to be that story about about the Chinese dude who pretended to be talking the guy out of jumping off the bridge, but pushed him instead."
"I thought the panda story was real, but it was just another discust."