LOS ANGELES -

On Wednesday Will Ferrell stopped by Conan O'Brien's talk show in character as Ron Burgundy to make an important announcement: Paramount Pictures has officially given the go-ahead to sequel to the hugely popular 2004 comedy "Anchorman: The Legend of Ron Burgundy."

WATCH: (warning language may be considered offensive to some) Official Announcement

Ferrell made his official announcement. "As of oh-nine-hundred hours Mountain Time, Paramount Pictures and myself, Ronald Joseph Aaron Burgundy, have come to terms on a sequel for 'Anchorman.' It is official: There will be a sequel to 'Anchorman.'"

No word on the release date for the sequel. There are reports that the movie will see Paul Rudd, Steve Carell and David Koechner reprise their roles from the original. They also indicate that Judd Apatow will again produce and McKay will direct the film.