One of my favorite movies of all time is up for a sequal and it's about to get squashed! I really hope they can pull this one out. I quote lines from the movie all the time and I actually have many leather-bound books and my apartment smells of rich mahogany, and I would like to extend to you, an invitation to the pants party! I'm in a glass case of emotion over this!  DP

Will Ferrell is holding out hope that he'ill get the chance to star in a sequel to his 2004 comedy Anchorman: The Legend of Ron Burgundy. Last week, his frequent collaborator and Anchorman director, ADAM MCKAY, tweeted that Paramount has "basically passed on Anchorman 2."

When asked by Entertainment Weekly to elaborate on the current status of Anchorman 2, Ferrell said, "Well, you know, yeah, it's a little peculiar. On the one hand, [we were] being begged to do a sequel for such a long time, and then we finally came up with a concept that we liked, we talked to all the guys, and everyone was up for it. And then to get the reaction we got, yeah, it's slightly puzzling to us."

Ferrell harbors no ill will towards Paramount, though. He says, "It's...their money. They get to do or not do whatever they want." He adds that both sides are still in talks, meaning there's a chance the sequel could still happen.

According to Entertainment Weekly, the potential budget for Anchorman 2 has been a sticking point in the negotiations. The magazine's sources claim Paramount is refusing to make the movie for more than 50 million dollars, which is about 20 million less than what Ferrell and McKay are requesting. Ferrell's camp tells the magazine that those figures are inaccurate. (ABC NEWS)