UPDATE 2:35p ET: French President Francois Hollande responded to the terror attack and addressed the French people.

"Today, the whole republic has been attacked," Hollande said. "The republic represents freedom of expression, the republic is culture, is creation, is pluralism, is democracy. And that's what was being threatened by the assassins, the ideals of justice and peace that France, in fact, carries everywhere on the international scene."

Watch Hollande's remarks below.

UPDATE 12:45p ET: President Obama weighed in on the attack this afternoon in remarks from the White House, calling it a "cowardly evil act." 

Obama said the attack on the Charlie Hebdo office was an assault on freedom of speech. 

"Those who carry out senseless attacks against innocent civilians, ultimately they'll be forgotten," he said.

Watch the remarks below. 

UPDATE 11:15a ET: Secretary of State John Kerry spoke from the State Department this morning, saying that the United States stands with France in "confronting extremism." 

Kerry said the principles and values of freedom can be attacked, but never "eradicated."

"The freedom of expression that this magazine represented is not able to be killed by this kind of act of terror," said Kerry, adding that the terrorists don't understand that attacks like these only strengthen their opponents.

Watch his remarks.

UPDATE 10:30a ET: President Obama issued the following statement on the attack. 

"I strongly condemn the horrific shooting at the offices of Charlie Hebdo magazine in Paris that has reportedly killed 12 people.  Our thoughts and prayers are with the victims of this terrorist attack and the people of France at this difficult time.  France is America's oldest ally, and has stood shoulder to shoulder with the United States in the fight against terrorists who threaten our shared security and the world.  Time and again, the French people have stood up for the universal values that generations of our people have defended.  France, and the great city of Paris where this outrageous attack took place, offer the world a timeless example that will endure well beyond the hateful vision of these killers.  We are in touch with French officials and I have directed my Administration to provide any assistance needed to help bring these terrorists to justice."

Press Secretary Josh Earnest called it an "act of terrorism" on "America's Newsroom" this morning.

UPDATE 9:04a ET: Catherine Herridge reported on "America's Newsroom" that French police now assume there were four attackers.

She said that police believe two or three gunmen entered the Charlie Hebdo newspaper offices, while another waited outside in a car.

The gunmen are still on the loose.

Police have closed Paris schools and locked down stores, media offices and houses of worship.

UPDATE 7:57a ET: French officials say that as many as three Kalashnikov-toting gunmen are being sought after the Paris terror attack that left 12 people dead and at least 15 injured.

According to reports, two policemen and several journalists are among the dead.

Sky News posted a video to their YouTube channel that apparently shows the attackers firing their weapons on the street.

At least one person in the video yells, "Allahu Akbar."

At least 12 people have been killed after masked gunmen opened fire inside the Paris offices of a satirical magazine in an attack French President Francois Hollande called terrorism.

FoxNews.com reported that police said the gunmen fled in a stolen car and are still at large. Police also said at least one of those killed was a journalist.

GRN reporter Melissa Chemam said on "Fox and Friends" this morning that the attack took place at approximately 11:30 a.m. local time in Paris.

Chemam added that Hollande confirmed in a speech that it was a terror attack and Paris is on maximum terror alert.

She said that Charlie Hebdo has been threatened in the past - the paper's offices were firebombed in 2011 after an issue featured the following caricature of the Prophet Muhammad on its cover.

More on the controversial cartoons here

Steve Doocy pointed out that the most recent tweet from Charlie Hebdo's Twitter account was an image of ISIS leader Abu Bakr al-Baghdadi.

Watch Walid Phares react to the attack in the clip below.

Watch more above and stay with Fox News Insider for updates.