Machine-learning has enabled the creation of ‘deepfake videos’; highly-realistic footage that features a person saying or doing something they never did. In recent years, this technology has become more widespread and various apps now allow an average social-media user to create a deepfake video which can be shared online. There are concerns about how this may distort memory for public events, but to date no evidence to support this. Across two experiments, we presented participants (N = 682) with fake news stories in the format of text, text with a photograph or text with a deepfake video. Though participants rated the deepfake videos as convincing, dangerous, and unethical, the deepfake video format did not consistently increase false memory rates relative to the text-only or text-with-photograph conditions. While further research is needed, the current findings suggest that deepfake videos do not always distort memory for public events any more than simple misleading text.