President-elect Barack Obama has reportedly selected former FCC staffer and IAC/InterActiveCorp executive Julius Genachowski to be the next chairman of the Federal Communications Commission.

Genachowski is already serving on Obama's transition team and most recently worked as a venture capitalist in Washington.

Genachowski was chief counsel at the FCC under Reed Hundt, who was FCC chairman from 1993 to 1997, and held executive positions at Internet firm IAC/InteractiveCorp.

"Under Julius Genachowski's leadership, the FCC's compass would point toward the public interest," Ben Scott, policy director of Free Press, said in a statement. "The challenges facing the next FCC are enormous [and] Genachowski promises to provide the strong leadership we need."

During an appearance on a technology panel at the Democratic National Convention last year, Genachowski expressed concern about the continuing decline in broadband penetration in the U.S. He also said GOP nominee John McCain did nothing to spur growth in the technology industry, create jobs, help create an open Internet, or ensure competition during his tenure as Senate Commerce Committee chairman.

Republican Kevin Martin has served as FCC chairman since 2005. During a Saturday panel at this year's Consumer Electronics Show, Martin said it was all but certain that Obama would replace him as FCC chair, though there is the possibility that he could remain as a commissioner.