I don't think anything will be called on Election Night. Especially if it's close, the media will be still stanning for Biden and will be all "Well you see, there are many mail in/early votes yet to count so we won't know for at least two weeks." Same if not more if it seems like Trump is landsliding in either the popular or electoral (or both). They will try to keep the Biden hope alive as we segue into 79 Days of Hell of court battles and recounts.
I'm not even going to stay up because we won't get a 2016 style meltdown, it's just going to be hours of spin and cope by pundits stretching for things to say in a vacuum. If anything, the George Flyod/Riot thread will be where the action is because I expect massive BLM/Antifa polling place riots and voter intimidation all day leading to fires and looting all night.