Will Ferrell, in full Ron Burgundy costume, announced Wednesday on late night TV that there will be a sequel to 2004's Anchorman.

"As of 0900 Mountain Time, Paramount Pictures and myself, Ronald Joseph Aaron Burgundy, have come to terms on a sequel to Anchorman," he said on TBS late night program "Conan." "It is official! There will be a sequel to Anchorman. There will be a sequel."

Steve Carell and Paul Rudd were set to return, Paramount told Entertainment Weekly. The script will be co-written by Ferrell and Adam McKay. McKay will also direct the second film.

The film is set for release in 2013.

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