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FCC Chairman Julius Genachowski Resigns

Julius Genachowski is resigning as chairman of the Federal Communications Commission.

The FCC announced the decision before Genachowski made it himself with a news release entitled, "Chairman Genachowski Announces Plans to Step Down."

Genachowski has been in the position since June 2009, and it was widely expected he would step down in President Barack Obama's second term.

More to come...