Cut to a few hours later. Again, the crew suits up Caulson and Henry for a sharkdive, and we see the hunters on the other boat, staring steely eyed at the cages. The crew lowers the two men into the water. The sharks again swarm around the underwater cages, more aggressive than before, biting into the steel, and bashing against it hard enough that dents begin to appear in the bars. In the cabin, the radio crackles to life. Neilsen and Greigson are there. "We have warned you before," we hear Gelicovich say, "Now, you must pay the penalty." The TV in the cabin is on, tuned to CNN.

Greigson grabs the phone in one hand and begins to dial a number. An operator answers the phone: "This is CNN." Greigson demands to be connected to the newsroom, saying he has breaking news. When asked what, he says he's found William Harriman. They put him right through, and he gives Satellite uplink coordinates for them to get live footage in 5 minutes. At this point Neilsen shouts into the walkie-talkie, go!

We cut down to underwater. Henry hears Neilsen shout "go!" into his headset and quickly begins to move, with his underwater camera in hand. We hear him say to himself. "They're not going to hurt me. They don't attack unless first attacked, or unless there's already blood in the water." He then, trembling, opens the shark cage's door and swims quickly toward the hunters boat, with sharks swimming around him. He grabs a hold of the ladder on the side of the hunter's boat and begins to climb. Just before he reaches the top of the boat, before he's visible to the people on board, he carefully lifts the camera up to the railing with one hand, and we hear Liason's voice over the radio headset. "Nice work. Now I'm going to tell you where to point the camera, and you're going to do it. Got it?"

We cut back to the original boat, where Liason flips a few switches. "We're live," he says. At this moment the crew stares out at the hunter's boat, where Harriman steps out on deck, arms raised to the sky, with the knife in hand. Liason directs Henry on how to aim the camera toward Harriman. Seconds later, CNN breaks in, showing the shaky picture from Henry's camera. Live, on international television, without knowing it, Harriman slices his arm open and the hunt begins again.

We cut back to Caulson, the sharks going crazy around him. "Get me out of here!" he screams. "Negative," Neilsen responds. "If we pull you up, they'll realize Henry isn't in that cage. Once they find that out, he's probably a dead man. You're gonna be fine. It's him I'm worried about most right now." The shark hunters continue their attack, with Henry maintaining a tenous hold on the side of the boat. In the documentary crew's boat, Griegson is live on the phone, and we hear his voice over CNN. "This is a violation of International Law on video, here," he says, "and we hope the US Coast Guard will look into it."

Neilsen picks up the ship's main radio and hails the nearest Coast Guard station on an emergency frequency to inform them of what's going on. The Coast Guard says that they've seen the footage and have already gotten a call from another government agency that's interested in dealing with the situation. The Coast Guard crew asks for coordinates, and Neilsen gives them to the Coast Guard station.

Soon, the hunt ends, and we see live footage broadcast around the world of a half-dead shark, still straining against the tether of the harpoon, being pulled from the water. Moments later, helicopters come across the horizon, and as they approach the hunters' boat begin to broadcast over a loudspeaker. "This is the United States, FBI. We have arrest warrants for all people on this boat. Surrender now." The chopper circles in, and Dr. Narg is at the front of the boat with his hands up. Harriman also steps out, and raises his hands.

However, just as the FBI is coming down the rope to grab Harriman, he swiftly reaches for his knife, slices open both his arms, and throws himself over the side. The sharks go mad. He disappears into a mess of blood and shark frenzy. We cut back down to Caulson. "It's over," he screams into the intercom radio. "Get me out of here. Henry's going to be fine. The FBI is over there." They agree and slowly lift him out of the water, along with the other, now-empty cage. The FBI descends after a moment, and arrests Bacon. They search the boat, and quickly find Henry hanging off the side of the boat. "What are you doing here?," one of the agents asks. Henry quickly explains the situation, and hands over his videotape to the agent. "There was a third person on board, though. I don't know where he went. It's been such chaos, and it's hard enough hanging on to the side of that damn boat with those sharks." "Are you sure there was a third person?," the agent asks. "Yes," responds Henry. "Russian. Very menacing looking." "Hold on," the agent says. He talks in rapid-fire manner over his walkie talkie. "Dammit! There's a boat missing. A lifeboat," he says after a pause. "We're not gonna find this guy. He doesn't want to be found." The choppers sail away,leaving a small crew on the hunters' boat to impound it and to return Henry to the documentary crew's boat, and they thank the documentary crew for their help.

We cut to a title card, "6 months later." The final shark documentary is rolling on a screen in a huge auditorium, and as it ends, lights come up in the room and applause erupts for the entire crew. The camera pans the audience, but stops for just a moment on a person clapping. We pause, and with a quick cut backward, we see it is Gelicovich. He walks away, grinning menacingly, as we fade to credits.