A phrase used specifically to indicate your dismissal of a particular statement, event, or viewpoint.
It is used to categorize something as noise, primarily. As if something is not evenvalid enough to be considered having a form. In reference to a viewpoint, it would indicate it's validity being on par with random noise.
As anyone would, with some random noise blaring out of a speaker, "fuck that", is expressive of a desire to mute it.
Bob is really heated about _______ and _______ at a party. He begins to express his concerns, until someone proclaims "Fuck that noise you are blabbering about" . Laughter follows.
If you feel strongly against something or a very deep hatred for event in question. Fuck that noise is a way of saying no chance, no way an event is "going down"
Matt: Jay man, let's hit up The OC this weekend?
Jay: Fuck that noise, too many chochs...
Matt: Word, fuckin lames...