Broadcasters CTV and CBC have declared that the Liberals will form government.

At 10:40 pm, CTV announced that a Liberal minority is likely.

According to The Star, a Conservative campaign insider said that their party will consider it a victory if they can hold the Liberals to a minority government.

The sources spoke to the Toronto Star on the condition they remain anonymous, said that O'Toole

"It's still early, and I think particularly in Ontario when we have thousands of potential people still in line to vote, calling a winner right now, in my view, perhaps a bit premature," said political commentator Kate Harrison on CPAC. "But let's say the numbers are what they are, I think that there's still a lot of really good things to take away from this from a Conservative perspective.

"When you consider that the entire motivation of this vote, from the Liberals on Justin Trudeau's part, was to secure more power, it is entirely possible that he will be going back with a weakened minority mandate," she said.

This is a breaking news story and will be updated.