That wasn't what the media reports said. What it said was that he wants to limit the FCC to spectrum control, and move the other functions to the FTC.
I've been advocating that for years - at least for the "Network Neutrality" issue.
The problems that network neutrality is trying to address are mainly anticompetitive behavior and consumer fraud, where ISPs selectively degrade service either to extort additional fees or limit users who make heavy use of their contracted bandwidth (consumer fraud - giving less than what was advertised or what "internet service" commonly means) or give a competitive advantage to their own "value added" or "content provision" services, those of other divisions of a media conglomerate, or of partners, (anticompetitive "tying", vertical integration, and cartel formation).
As the major federal-level consumer protection agency, charged with enforcing consumer fraud and antitrust law, the FTC is well qualified to handle this sort of thing. It also has a track record of doing so. Their antitrust actions, for instance, include the historic breakups of Standard Oil and AT&T, the opening of IBM's eased mainframe computers to peripheral built by other manufacturers, and the Windows Browser tie-in suit decision against Microsoft.
Among the things you might see from a move of such regulation from FCC to FTC might be media conglomerates forced to divest themselves of ISPs, ISPs forbidden to sell preferential fast-lane service, and bans on cuting off or degrading the service of heavy users.
After the way he was treated by the mainstream media - owned by these same conglomerates - I'd expect Trump's administration to be more than happy to penalize them by breaking up these conglomerates.
- We get more network neutrality - by separating the ISPs from the media conglomerates that incentivize NON-neutrality.
- The Trump administration gets to spank the media conglomerates that were completely in bed with the Democrats during the election - in the name (and actuality!) of consumer protection.