WASHINGTON, Oct. 17 — The head of the Federal Communications Commission has circulated an ambitious plan to relax the decades-old media ownership rules, including repealing a rule that forbids a company to own both a newspaper and a television or radio station in the same city.

Kevin J. Martin, chairman of the commission, wants to repeal the rule in the next two months — a plan that, if successful, would be a big victory for some executives of media conglomerates.

Among them are Samuel Zell, the Chicago investor who is seeking to complete a buyout of the Tribune Company, and Rupert Murdoch, who has lobbied against the rule for years so that he can continue controlling both The New York Post and a Fox television station in New York.

The proposal appears to have the support of a majority of the five commission members, agency officials said, although it is not clear that Mr. Martin would proceed with a sweeping deregulatory approach on a vote of 3 to 2 — something his predecessor tried without success. In interviews on Wednesday, the agency’s two Democratic members raised questions about Mr. Martin’s approach.