The Washington Post reports that the incoming Trump administration may be considering abolishing the FCC. The FCC was originally created to manage the allocation of a scarce resource (at the time)--frequency spectrum. Advances in radio technology and the rise of the Internet have led to questions about what the FCC should be doing these days.
As the article notes, much of what the FCC does these days could be handled by other Federal agencies and/or pushed down to state regulatory agencies. The FCC has had a difficult job over the past couple of decades as it tries to manage the regulation of the now largely irrelevant legacy cable TV and telephone companies. I don't think the world would end if the FCC were broken up, and it could open the door for both more start up private sector telecom investment and increased opportunities for communities to build and manage their own telecom infrastructure.