Paramount is reportedly passing on the long rumoured Anchorman 2.

Obsessed with Film says:

According to Deadline and a tweet from writer/director Adam McKay the long rumoured ‘Anchorman’ sequel hasn’t been picked up by Paramount. McKay twittered;
”
So bummed. Paramount basically passed on Anchorman 2. Even after we cut our budget down. We tried.”

While I would have liked to see an Anchorman 2 (potentially set in the 80s - or the moon) I can live without it.

Anchorman was great, and many of its stars have grown on to bigger and better things since then. But its fine to let that film stand on its own. Its satisfying enough in one dose without franchising it.