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Photo: Andrew Toth/FilmMagic via Getty Images

Former CBS chairman and CEO Les Moonves has told CBS' board that he intends to dispute its ruling to strip him of his $120 million severance after he was fired with cause, according to a filing with the Securities and Exchange Commission. The network pulled the payment after an internal investigation into allegations of sexual misconduct.

Why it matters: Sources at CBS and within the industry say that Moonves' ego ultimately prevented a more graceful exit at CBS. His reluctance to step down after initial reports about his behavior, his attempts to undermine investigations, and his current fight to keep his money all highlight the extent to which he is willing to fight these allegations at the expense of his reputation.

Be smart: At the time of his firing, Moonves' lawyers said that he "vehemently denies" any reports of non-consensual sexual relations — and that he was cooperating with investigators. That, combined with the fact that CBS has been paying Moonves' legal fees since he was fired in September, make the legal action less surprising but aggressive nonetheless.

Go deeper:

Go deeper

Capitol review panel recommends more police, mobile fencing

Photo: Olivier Douliery/AFP via Getty Images

A panel appointed by Congress to review security measures at the Capitol is recommending several changes, including mobile fencing and a bigger Capitol police force, to safeguard the area after a riotous mob breached the building on Jan 6.

Why it matters: Law enforcement officials have warned there could be new plots to attack the area and target lawmakers, including during a speech President Biden is expected to give to a joint session of Congress.

Financial fallout from the Texas deep freeze

Illustration: Annelise Capossela/Axios

Texas has thawed out after an Arctic freeze last month threw the state into a power crisis. But the financial turmoil from power grid shock is just starting to take shape.

Why it matters: In total, electricity companies are billions of dollars short on the post-storm payments they now owe to the state's grid operator. There's no clear path for how they will pay — something being watched closely across the country as extreme weather events become more common.

U.S. Chamber decides against political ban for Capitol insurrection

A pedestrian passes the U.S. Chamber of Commerce headquarters as it undergoes renovation. Photo: Andrew Harrer/Bloomberg via Getty Images

The U.S. Chamber of Commerce revealed Friday it won't withhold political donations from lawmakers who simply voted against certifying the presidential election results and instead decide on a case-by-case basis.

Why it matters: The Chamber is the marquee entity representing businesses and their interests in Washington. Its memo, obtained exclusively by Axios, could set the tone for businesses debating how to handle their candidate and PAC spending following the Jan. 6 Capitol attack.