DARYN KAGAN, CNN ANCHOR: In business news, the proposed mega- merger between America Online and Time Warner draws government scrutiny today. Of course, we should mention that Time Warner happens to be the parent company of CNN. Our Greg Clarkin joins us from Washington. He has a preview of today's hearing. This one is before the FCC -- Greg.</s>GREG CLARKIN, CNN CORRESPONDENT: Exactly, Daryn. This one gets under way at 1:00 this afternoon at the FCC headquarters here. It's expected to be a packed house at this first-floor meeting room. Now, testifying today and offering comments on the deal will be Steve Case, chairman of AOL, and Gerald Levin, chief and chief executive offer -- officer, rather, of Time Warner. Now, they're expected to make their case as to why this $118 billion merger should go through. Also be heard today, a lot of critics of the deal. Their chief -- primary concern, really, is that this will concentrate too much power in the hands of one company in this new digital age, Time Warner with better than 12 millions cable subscribers, and that cable line into your homes is fast becoming the favorite way of offering high-speed Internet access. A lot of critics of the deal feel that Time Warner and America Online could potentially favor their content into your homes rather than giving everybody an equal shot at it. Now, the companies say that the free market will force them to offer everybody's content no matter where it originates and who produces it. So at 1:00 this afternoon, this FCC hearing is under way. And, again, we should point out, Time Warner, the principal in this deal, is the parent of this network. In Washington, Greg Clarkin, CNN Financial News.</s>KAGAN: Greg, thank you very much.
FCC Holds Hearing on Proposed AOL-Time Warner Merger Today