<?php if ($fields['type']->content == 'Event'): ?>
  <a href="<?php print $fields['path']->content; ?>"><?php print $fields['title']->content; ?></a>
<?php endif; ?>

<?php if ($fields['type']->content == 'PATF News'): ?>
  <a href="<?php print $fields['path']->content; ?>"><?php print $fields['title']->content; ?></a>
<?php endif; ?>

<?php if ($fields['type']->content == 'News Link'): ?>
//This link goes to _blank
 <a href="<?php print $fields['field_link']->content; ?>" target="_blank"><?php print $fields['title']->content; ?></a>
<?php endif; ?>

if ($fields['type']->content == 'Page') {
  // print title linking to node
  print $fields['title']->content;
}
if ($fields['type']->content == 'News') {
  // print title linking to other website
  print 'http://example.com/'. $fields['title']->content;
}

$link = $fields['path']->content;
$title = $fields['title']->content;
$options = array();

if ($fields['type']->content == 'News Link') {
  $link = $fields['field_link']->content;
  $options['attributes']['target'] = '_blank';
}

print l($title, $link, $options);

<?php if ($fields['type']->content == 'xxx') { print 'Test'; } ?>