FCC Chairman Genachowski to Step Down

Federal Communications Commission Chairman Julius Genachowski, the top regulator of U.S. telecom companies, is set to announce March 22 that he will step down, an FCC official and an industry official said. The chairman's departure will make the FCC short one Democrat and one Republican after Robert McDowell, the senior Republican on the five-member commission, announced he was stepping down this week. Their replacements require Senate confirmation.