Officially, Pai will need to be confirmed again by the Senate, but the timing of Trump's renomination coincides with Pai's appearance before the Senate Commerce Committee on Wednesday. Assuming he sails through his confirmation hearing, Pai's new five year term will technically begin when his last one expired, meaning he could stay on as chairman until at least 2021.
In addition to Pai's seat, President Trump will be filling two other spots on the FCC -- according to commission rules, one seat is designated for a Republican and the other must go to a different party member. As Axios also notes, free-market scholar Rosalyn Layton and Indiana State Senator Brandt Hershman have been mentioned as possible Republican commissioners. Obama nominee and current commissioner Jessica Rosenworcel is expected to stay in the Dem's seat.