Jon Stewart, Bill O'Reilly pair up for online political debate Jon Stewart and Bill O'Reilly. By Paul Bond, The Hollywood Reporter Comedy Central's Jon Stewart and Fox News Channel's Bill O'Reilly will debate each other about political issues during a live event to be streamed over the Internet. O'Reilly announced the event on his show, "The O'Reilly Factor," on Monday night. PHOTOS: THR's 35 most powerful people in media "The format is exactly like the presidential debates, without all the phoniness and pomposity," O'Reilly said. The debate is dubbed "The Rumble in the Air-Conditioned Auditorium" and is set for Oct. 6 at George Washington University in Washington. Tickets for the live show are $4.95 apiece, and half the profits are earmarked for charities. O'Reilly called the event a win-win situation. "You win because we kept the price very low and it will be a fun evening," O'Reilly said during his Monday show. The nation wins because there will be plenty of no-spin analysis about serious issues. Stewart wins because he finally makes the big time, and I win because I can make fun of Stewart. VIDEO: Jon Stewart and Bill O'Reilly face off over shrimp The pair are seen trash-talking each other at the website TheRumble2012.com, which is also where they are telling their fans to go to sign up for the online stream. One video says of the event, "It's why Al Gore invented the Internet." In another video, Stewart likens the debate to Thunderdome, except that "two men enter and both leave, but probably not together." O'Reilly promises a "train wreck" in another video. PHOTOS: THR celebrates the 35 most powerful people in media at New York City party "It will be a night to remember," says O'Reilly. At least for Stewart and his 18 writers.