From this article.
After two elections in which the suspense went far into the evening (and, in the case of 2000, for 36 days afterward), the executives said they are contemplating how to manage their newscasts in the event of an Obama blowout — in which the Democrat’s victory would be obvious while polls are still open in most of the country.
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The quandary is highlighted by Virginia, a state that has not voted Democratic for president since 1964 but where Obama is now leading in polls. There is no realistic McCain electoral college strategy that does not depend on winning the Old Dominion.