Hugo Chavez has been defeated in his attempt to grab power. Daniel, Caracas Chronicles and at least one Hot Air commenter says NO won. NO carried 50.7% of the vote. Applause broke out at the announcement.

UPDATE: Daniel:

Fireworks in San Felipe. Chavez on cadena!!!

Chavez is apparently speaking now. A commenter at Hot Air says it’s essentially a concession speech.

UPDATE: Miguel at Salon:

at 11:12 PM, the Venezuelan Electoral Board, the CNE, just announced that the No won 50.7%   to 49.29%   , and Chavez’ proposed Constitutional reform has been defeated!!!

Have no words at this time…more when I get my composure back. This simply means too much…

Good job, Venezuela.