Fox News will be hosting the first traditional-style debate this week prior to the South Carolina primary coming up this Saturday. CNN will be airing a debate on Thursday evening also from South Carolina. Tonight’s debate is sponsored by Fox News, The Wall Street Journal and the South Carolina Republican Party. It will be held at the Myrtle Beach Convention Center featuring five of the GOP hopefuls as they battle for South Carolina delegates and beyond.

Full Debate Video: Fox News/Wall Street Journal/SC GOP Debate Video

Air Time: Monday, January 16 at 9pm ET on Fox News

Participants: Romney, Perry, Gingrich, Santorum, Paul

Report from SCNow.com:

The preparations were right on schedule Friday at the Myrtle Beach Convention Center for the Fox News Republican Presidential Debate.

Crews have had plenty of time to get everything set up. They’ve been here since Monday.

“Right now, Fox News is finishing up the stage and the lighting, cameras and things like that,” said Paul Edwards, general manager of the convention center. “They’re probably really close to finishing their part. We should be able to put carpet down this afternoon, which another sub contractor’s in charge of that.”

Then, Edwards’ team could start doing the last bit of their job: setting up the 1500 chairs on the floor. Edwards said there’s nothing to be worried about right now.

This time around Rick Perry barely made the cut to join the stage with his GOP colleagues. Technically Perry meets the requirements set forth by Fox News, however, it is unlikely he’ll meet CNN’s requirements for Thursday evening’s debate but reports indicate CNN may let him participate anyway. See this report from The Hill for the details.

Update

Official word that Jon Huntsman is dropping out of the 2012 race Monday morning and will be endorsing Mitt Romney. See this post for more details.