The Last Broadcast (1998) torrent

Bristling with equipment, two enthusiastic local access cable TV producers recruit an assistant and venture into a forest in search of the mythical and horrifying Jersey Devil. Days later, only one of the trio emerges. He becomes the prime suspect in the disappearances of the other two. However, a local filmmaker examines extensive footage found at the scene and arrives at a different conclusion.

http://www.imdb.com/title/tt0122143/