An executive order would also probably be a waste of time because it is irrelevant; the FCC is an independent agency and not directly overseen by the Executive Branch. The President appoints commissioners but Congress has to approve them and they do not report to him/her.

And more importantly, an executive order can be ignored by any subsequent presidency. This change needs to be in law for it to have any teeth.

Unfortunately, that kind of stuff takes time.

And probably illegal, since the LoC was explicitly given this power by Congress.