Everyone, I highly recommend The Last Broadcast. It came out a year before Blair Witch and is still the best, in my view, of these "documentary-style" horror films. It simply does not get the recognition that it deserves.
However, I must warn you that the ending absolutely sucks balls. It absolutely has the worst possible ending. When the narrator/film maker announces that the video lady is done restoring the last of the lost footage, do yourself a favor by turning it off. Make up your own ending and leave it at that.
Other than the abomination of the ending, I highly recommend this movie.