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1. An ending of a piece of fiction (e.g., a television episode, chapter of a book, a film, etc.) characterized by a dramatically suspenseful and uncertain end. A good summer book always has a cliffhanger at the end of each chapter so that you never want to put it down! Judging by that movie's cliffhanger, I'd say we'll be seeing a sequel coming out fairly soon.
2. A serial television or film production characterized by such endings. That show is a cliffhanger—the episodes never really have endings.
3. Any contest, competition, or other such situation in which the outcome is suspenseful and uncertain until the very end. The two teams have been neck and neck for the entire second half, and with two minutes left this match has become a real cliffhanger. This election is looking like a cliffhanger, and we won't be able to truly say who's won until all the votes are counted.
A situation whose outcome is in extremely suspenseful doubt until the last moment. The term comes from serialized adventure films popular in the United States in the 1920s and 1930s, in which, at the end of each installment, the hero or heroine is left in a very dangerous situation, sometimes literally dangling from a cliff. The rationale, of course, was to entice the audience to return for the next installment in order to see what happened. By the 1940s the term was being transferred to other suspenseful states of affairs—for example, “the election was a cliff-hanger.”