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Two chief techniques of satire are the use of irony and sarcasm, Irony is an expression that runs contrary to the usual state of affairs (such as an ambulance arriving to help someone in an accident and running them over). Sarcasm is the use of verbal irony, or saying the opposite of what is true in order to show contempt (ike saying "smooth move" when someone trips over something).
Two other tools of Satire are Hyperbole and Understatement. Hyperbole is exaggerating for effect ("Within 10 minutes of the WiFi going down, riots broke out across campus"). Understatement is, of course the opposite, where something major is presented in a subtle or slight way.
So, satire might contain irony, sarcasm, hyperbole, and/or understatement as devices, but it also has two other important elements. It uses these devices to enact what is usually an implicit or unstated criticism of the topic, issue, event, or person. It also works from a specific societal ideal. What should we strive for? What would be better? So, a satirical newsite or satirist creates a distortion of reality as a way to magnify the problems or flaws.
A clip featuring Stephen Colbert