He had to work for it, but Hugo Chavez won a third term, beating back a center-left challenger, Henrique Capriles, 54-46; the CNN article casts Capriles as a conservative, but just about anyone would look conservative versus Chavez's "Bolivarian" socialism. Capriles was envisioning a Lula-style market-friendly social democracy that seems to have worked fairly well for Brazil, compared with the underperforming Venezuelan economy.
Chavez has been fighting off cancer, so it's an open question whether he'll be able to complete a third term. Here's an interesting piece on the possible successors, including two of Chavez's daughters. They would have a fresh election is there is a vacancy in the first four years of the term, so the heir would have to go to the polls quickly.
That might explain why Capriles seems to be a fairly gracious loser here; he's in position to have another whack at it in short order in Chavez has a relapse in his cancer.
Praying for a sound mind for Chavez would make more sense than playing the vulture here. Chavez's MO seems to double-down on centralization when he faces a problem, but he might be able to loosen the strings if it is needed.