Washington - Jan 13, 2009 - The word is circulating that President-elect Barack Obama will name Julius Genachowski, a venture capitalist, as the new Federal Communications Commission chairman. Genachowski is credited with leading Obama's Internet efforts during the campaign. He is still working on the Obama transition team.

Formerly a chief counsel to past FCC chairman Reed Hundt, who chaired the commission from 1993 to 1997, he has also held executive positions at IAC/Interactive Corp.

It's up to the senate to confirm the nomination.

Republican Kevin Martin has served as FCC chairman since 2005. At the Consumer Electronics Show, Martin said it was all but certain that Obama would replace him as FCC chairman. Martin believes that he could stay at the agency as a commissioner.