This will change the way people obtain news information because it is no longer a truly free press. Part of having a free press is satire and sarcasm. People want to know that they can find some humor in things that are ridiculously untrue. Without this, commentary on the news will move farther underground.
If you have somebody who does not have much internet knowledge they could believe these sites are real and end up make great errors in judgement. Our world revolves around rumors and the more fuel there is the hotter the fire burns. Some things that got "released" could potentially be very harmful to people and their loved ones. Be fair and keep it honest.
Over the last few years, I've seen a huge increase in the number of fake news stories that are being shared (totally unironically) over social media. Google removing the sites off the search engine should help a little, but not everybody actually gets news from Google. These fake news sites will still be out there, and some people won't understand they are satire, and the sharing will continue.
I do not think that Google banning and removing the ad stream revenue from the most prominent "fake" news sites will have much of an effect on how people obtain their news information. Online news purveyors are a persistant bunch and I am sure that they will soon learn to adapt and attract the same audiences.