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On Wednesday evening, Will Ferrell stopped by Conan O’Brien’s talk show in character as Ron Burgundy to make an important announcement: Paramount Pictures has officially greenlit a sequel to the hugely popular 2004 comedy “Anchorman: The Legend of Ron Burgundy.”

After playing some jazz flute and poking fun at Conan, 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.'”

He then played more jazz flute and disappeared into the curtains.

A sequel for “Anchorman” has long been in the works, but had previously failed to come to fruition. Originally, Ferrell and director Adam McKay intended for a sequel to to originate as a Broadway show before coming to the big screen. However, the planned film, which was to take place in outer space, was deemed “not a good fit” by Paramount executives as of last May. Of course, that was before “The Other Guys,” also directed by McKay and starring Ferrell, made over $170 million worldwide.

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