President Barack Obama won re-election to a second term in the White House, television networks projected, defeating Republican challenger Mitt Romney.after a long and bitter campaign.

[Update 11:05 p.m. ET] With projections currently putting Obama at 262 electoral votes, Romney will need to run the board of swing states still in play -- Ohio, Colorado, Virginia and Florida -- to win. Not impossible, but unlikely.

The electoral total now stands at: Obama 244, Romney 203.

Also, POLITICO is reporting that Republican George Allen is conceding to Democrat Tim Kaine, both former Virginia governors vying for a Senate seat in the Old Dominion.

Also, Rep. Joe Walsh , R-Il., lost his seat to his Democratic challenger Tammy Duckworth for Illinois' 8th congressional district.