Congress to examine Microsoft-Yahoo plans on Feb. 8

There's nothing like a proposed multibillion-dollar melding of two high-profile corporations to perk up politicos on Capitol Hill.

Just hours after Microsoft revealed its $44.6 billion bid for Yahoo, Rep. John Conyers (D-Mich.) and Lamar Smith (R-Texas), the chairmen of the U.S. House of Representatives' Antitrust Task Force (and its influential Judiciary Committee), said they're planning a hearing on February 8 to examine "whether this proposed consolidation works to further or undermine the fundamental principles of a competitive Internet." There's no word yet on who will end up testifying.

"Microsoft's bid to acquire Yahoo is certainly one of the largest technology mergers we've seen and presents important issues regarding the competitive landscape of the Internet," the two members said in a statement.

Over on the Senate side, Sen. Herb Kohl (D-Wisc.), who leads that chamber's antitrust panel, said on Friday that he also plans to hold hearings "should Yahoo accept Microsoft's offer."

The House committee has dubbed the hearing "The State of Competition on the Internet," suggesting it'll cover topics outside Microsoft-Yahoo territory, which perhaps is wise: After all, Yahoo hasn't even said "yes" yet.