Jon Stewart and Bill O'Reilly have announced plans to put the presidential debates to shame with their very own battle of wits.

"The Rumble in the Air-Conditioned Auditorium" will take place on October 6th at George Washington University, with the entire 90-minute spectacle set to be livestreamed online.

Those who want to witness history in the making need only shell out $4.95 — and at least fifty percent of the proceeds will be donated to charities.

Among other topics, the two talk show hosts will debate gas prices, the national debt, and America's relationship with Muslim nations. The event itself will be moderated by CNN anchor E.D. Hill, and presented in presidential debate style, but "without all the phoniness and pomposity," O'Reilly said on yesterday's O'Reilly Factor.

As for what people can expect when the two pillars of commentary step into the arena, Stewart said it would be not unlike Thunderdome, but instead of two men entering and one man leaving, two men will enter and both will leave, "but probably not together."

Correction: A previous version of this post stated that online streaming will be free. As stated above, it will actually cost $4.95 per downloadable stream.

[video via Bill O'Reilly]