With the third debate between the democrats and Republicans approaching, the first third-party presidential debate is looking to capture the attention of voters.

In order to help draw potential voters out of the two-party system, the Free and Equal Elections Foundation is putting on the third-party debate with the star power of Larry King as the moderator.

The announcement was made Tuesday by the foundation with the debate taking place at the Hilton Chicago on Oct. 23.

Christina Tobin, founder and chair of the foundation, released a statement saying, "We are honored to have Larry King moderate this historic debate."

The third-party participants will include Libertarian candidate Gary Johnson, Green Party candidate Jill Stein, Constitution Party candidate Virgil Goode and Justice Party candidate Rocky Johnson.

The release continued: "The previous debates between President Obama and Gov. Romney have failed to address the issues that really concern everyday Americans. From foreign policy, to the economy, to taboo subjects like our diminishing civil liberties and the drug war, Americans deserve a real debate, real solutions, and real electoral options."

The live broadcast will be on Ora TV, a digital programming service, as well as the Free and Equal Elections Foundation website. Russia Today will also broadcast the debate live.

King commented about the debate to The Associated Press, saying, "They have a story to tell. It's a valid story. It's a two-party system, but not a two-party system by law."

The newsman is famous for being the host of CNN's "Larry King Live," which ran for 25 years. The show had its last episode in December 2010 and King has since started his own online talk show "Larry King Now," which debuted earlier this year on Ora TV.

In a press release for the debate, King stated the following:

"I have interviewed every US President since Nixon, and lest people forget, I helped usher Ross Perot into the national conversation during the 1992 presidential contest. I appreciate the importance of providing a platform to those with real alternative visions for our country's future."

The star power behind King may help bring in viewers to the debate, which is usually overshadowed by the battle between Barack Obama and Mitt Romney. The third debate between the democratic incumbent and the Republican challenger takes place Monday, Oct. 22 at 9 p.m. ET in Florida and will be moderated by CBS newsman Bob Schieffer, according to the Commission on Presidential Debates.

Third-party candidates have had a hard time voicing their opinions in televised public debates since 1987, when the Commission on Presidential Debates was created by the Republican and democratic parties.

Independent candidate Ross Perot was the last third-party participant to get the chance to debate with the top two parties when he faced off against George Bush and Bill Clinton in 1992.

The third-party debate will take place at 8 p.m. CT on Tuesday, Oct. 23.

Tags
President Obama, Presidential debate, Presidential debate 2012, Barack Obama, Mitt romney, Democrat, Republican, Larry king, Cnn