He announced initially announced the awards last Tuesday in a Tweet.
The 71-year-old said he would be handing out his "dishonest media" awards in various "fake media" categories, ranging from "dishonest" to "bad reporting".
Hannity then tweeted that viewers would be treated to a "Huge Investigative report, and what the corrupt media will NOT tell you about the Presidents accomplishments".
"The interest in, and importance of, these awards is far greater than anyone could have anticipated!"
"CNN "MISTAKENLY" reported that candidate Donald Trump and his son Donald J Trump Jr had access to hacked documents from WikiLeaks", is the second story on the list. "And I, of course, don't want to get snubbed".
In fact, several late-night comedy hosts are actually campaigning for the public disgrace that presumably will bring higher ratings.
Indian man with wife beside, gropes United States woman, arrested
Ramamoorthy's wife had at this point walked up to the back of the plane to inquire into the incident, the attendants added. But the "flight attendants did not report that anyone asked them to change seats other than the victim", Jawad said.
Noah tried to upstage Colbert by not purchasing a Times Square billboard but also a full-page ad in the New York Times promoting "The Daily Show" as "political propaganda disguised as entertainment" and "monotonous ... liberal dogma".
Mr Trump hit back on Twitter, writing: "I think [I] would qualify as not smart, but genius.and a very stable genius at that!" The bad news is he's itching to start a nuclear war. This would be one of its kind media award by the USA president.
His tweet prompted worldwide bemusement and amusement, but now the President has said he is delaying the honours citing the "interest in and importance of" the awards.
Trump has been at loggerheads with several U.S. mainstream media outlets, including the CNN, ABC News, The New York Times and the Washington Post among others. Traditional news organizations like the New York Times and CNN are sure to walk away with some prizes, but have been characteristically restrained about their ambitions.
In November, he tweeted about a competition among news networks for the "Fake News Trophy", excluding Fox News.
Trump had coined the term "Fake News" during his presidential campaign, targeting media houses for "biased" news.