No Go On Paramount's 'Anchorman 2'?

Writer/director Adam McKay has just twittered that the studio turned down a proposal for a sequel to the comedy, even after McKay had confirmed that Will Ferrell, Steve Carell and Paul Rudd would take paycuts. Plans had been underway to start production in February.

Here is McKay’s Twitter: “So bummed. Paramount basically passed on Anchorman 2. Even after we cut our budget down. We tried.”