Dominion Voting Systems Inc. filed a $1.6 billion defamation lawsuit against Fox News, alleging it “gave life” to a bogus conspiracy theory that the voting-machine company helped steal the election from Donald Trump. Fox embraced and broadcast “devastating lies” about Dominion in order to keep viewers from fleeing to more conservative news outlets that were giving unwavering support to Trump’s false claims of election fraud, Dominion said in the complaint filed in state court in Delaware. “Even though the lies about Dominion were inherently implausible and verifiably false when first made, Fox elevated and lent credibility to these lies on the airwaves of Fox, which in turn fueled the recirculation of those lies through digital and social media,” Dominion said in the complaint. “Fox News Media is proud of our 2020 election coverage, which stands in the highest tradition of American journalism, and will vigorously defend against this baseless lawsuit in court,” the company said in an emailed statement. Shares in Fox News parent Fox Corp. fell around 2% in morning trading, hitting $39.17 at 9:47 a.m. It’s the latest defamation suit by Dominion, which has already sued Trump lawyer Rudy Giuliani, former Trump campaign attorney Sidney Powell, and MyPillow Inc. Chief Executive Officer Mike Lindell, all of whom appeared on television to falsely accuse Dominion of stealing millions of votes from Trump. Powell has filed a motion to dismiss the lawsuit against her, saying “no reasonable person” would believe her claims were “statements of fact.” Dominion has also raised the possibility of suing Trump himself. In December, it sent a letter to the White House asking that documents be preserved for possible future litigation. It sent similar letters to Fox News and competing conservative media outlets like One America News and Newsmax as well as individual commentators. Fox certainly has the deepest pockets of the defendants Dominion has targeted so far -- Fox Corp. had revenue of around $12 billion last year and Chairman Rupert Murdoch’s fortune is estimated at $9 billion. The suit against Fox seeks $600 million in lost profit and at least $1 billion in lost enterprise value. All three of Dominion’s earlier suits seek $1.3 billion each. “The disinformation campaign waged against our company has caused us severe damage and undermined trust in American democratic institutions,” Dominion CEO John Poulos said in a statement. “These lies also have threatened the personal safety of our employees and customers.” Fox News and some of its anchors were sued by Smartmatic Corp., another voting machine company, in February. The network has moved to dismiss that suit, stating that its reporting was protected by the First Amendment. Subscribe to our YouTube channel: https://bit.ly/2TwO8Gm Bloomberg Quicktake brings you live global news and original shows spanning business, technology, politics and culture. Make sense of the stories changing your business and your world. To watch complete coverage on Bloomberg Quicktake 24/7, visit http://www.bloomberg.com/qt/live, or watch on Apple TV, Roku, Samsung Smart TV, Fire TV and Android TV on the Bloomberg app. Have a story to tell? Fill out this survey for a chance to have it featured on Bloomberg Quicktake: https://cor.us/surveys/27AF30 Connect with us on… YouTube: https://www.youtube.com/user/Bloomberg Breaking News on YouTube: https://www.youtube.com/c/BloombergQuickTakeNews Twitter: https://twitter.com/quicktake Facebook: https://www.facebook.com/quicktake Instagram: https://www.instagram.com/quicktake