Will Ferrell announces 'Anchorman' sequel

By the Associated Press | March 29, 2012 | 3:26 PM EDT

In this March 28, 2012 photo released by Team Coco, Will Ferrell portrays broadcaster Ron Burgundy during an appearance on "Conan," in Burbank, Calif. Ferrell dressed as the popular character from "Anchorman: The Legend of Ron Burgundy," and after performing a flute solo, he announced that there would be a sequel to the 2004 film. (AP Photo/Team Coco, Meghan Sinclair)

NEW YORK (AP) — Will Ferrell's swashbuckling newscaster Ron Burgundy had his own breaking news to announce Wednesday night: A sequel to "Anchorman" is finally happening.

Ferrell made a surprise, in-character appearance on "Conan" to regale the audience with a flute solo and declare a deal with Paramount Pictures. A sequel to the 2004 hit comedy, "Anchorman: The Legend of Ron Burgundy," has long been discussed.

Ferrell informed host Conan O'Brien: "It's official, there will be a sequel to 'Anchorman.'"

Earlier, Paramount had declined a musical plan put forth by Ferrell and director Adam McKay that also included a proposed Broadway stage show. No details on the project were immediately available but McKay, producer Judd Apatow, and co-stars Paul Rudd and Steve Carell are expected to return.