I want to preface this with it is not THE DAY AFTER.
Only aired once as far as I know in the early to mid '80s. Two hour special by one of the networks in the same vein as ORSON WELLES' "War of The Worlds" about a terrorist group taking hostages on a Navy vessel. Looked just like a newscast with reporters on-site and going back to the anchor for updates and experts throwing in their opinions. Whole thing ended with the terrorists detonating a nuclear warhead and then the credits rolled. Like I said, this was 30 years ago so my memory is sketchy but I do remember the disclaimers were before and after every commercial break which seemed odd because I don't remember every seeing that level of precaution every before on a "faux-newscast" type program.
I know this existed and just want to remember a name. Thank you in advance.
UNK SEZ:: I think I got it! We once got a NTT about another faux TV news broadcast (HERE) and a movie called SPECIAL BULLETIN was brought up by reader Nathan Wade as a possibility. It wasn't the right answer that day but I think it's the right answer today (Thanks Nathan!) I found SPECIAL BULLETIN available in it's entirety on Google video so check it out below and tell us if it's what you're seeking!
P.S. For a full review of SPECIAL BULLETIN look no further than our buddy JOHN KENNETH MUIR's joint HERE!