President Barack Obama will nominate venture capitalist and former wireless and cable lobbyist Tom Wheeler on Wednesday to head the Federal Communications Commission, and Rep. Melvin Watt to head the Federal Housing Finance Agency, which oversees Fannie Mae and Freddie Mac.
The planned nominations were disclosed by a White House official.
After decades in and around Washington telecom circles, Wheeler would take the reins of the FCC as the industry prepares for a major reshuffling of ownership of radio airwaves and as the agency tries to catch up to rapidly changing technology.
He has the rare support of both industry groups and a number of consumer advocates.
Wheeler has served as an informal adviser to Obama in recent years and has been a big fundraiser for his political campaigns. He went into the venture investing business after years at the helm of the National Cable Television Association and then the wireless industry group CTIA.