Julius Genachowski to Head FCC: Report

Barack Obama is poised to appoint technology guru Julius Genachowski to head the Federal Communications Commission, according to a report in The Wall Street Journal, although there is still no sign of the President-elect's Chief Technology Officer (CTO).

Genachowski, who was one of the hot favorites to become Obama's cabinet-level tech czar, is Obama's choice to head the FCC, said the report, which cited an unnamed source within the Democratic Party.

The co-founder of technology investment firm LaunchBox Digital and former chief counsel to ex-FCC chairman Reed Hundt is a long-standing friend of Obama and is one of the people credited with molding the the former Illinois senator's high-tech election campaign.

A spokesman for Obama's transition team refused to confirm whether Genachowski will become FCC chairman. "We don't comment on appointments before we have announced them," he told TheStreet.com.

Despite his technology credentials, there has recently been speculation that Genachowski was holding out for the powerful FCC chairmanship.

If nominated, Genachowski will be responsible for rejuvenating the FCC, which was recently blasted in a report by the House Committee on Energy and Commerce. The report, which cited poor communication across the Commission, and was extremely critical of current FCC chairman Kevin Martin's management style, painted a less-that impressive picture of the telecom regulator.

Genachowski, who is a Harvard Law School buddy of Obama's, has an impressive resume encompassing technology, finance, politics and the law. Prior to founding LaunchBox Digital, the IT guru was the chief of business operations at Internet company IAC/Interactive and is also a special adviser to General Atlantic.