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Time to take your jazz flute and your Sex Panther cologne out of storage. 'Anchorman 2' may finally be coming our way.

Adam McKay
, who directed and co-wrote 2004's 'Anchorman: The Legend of Ron Burgundy,' told MTV News that the long-awaited sequel to the Will Ferrell comedy may shoot as soon as next February, that all the original cast would be on board, that it's based on a "bigger, crazier" idea than the original, and that all that's holding the project up is budget approval from Paramount. Time to take your jazz flute and your Sex Panther cologne out of storage. 'Anchorman 2' may finally be coming our way.

Adam McKay
, who directed and co-wrote 2004's 'Anchorman: The Legend of Ron Burgundy,' told MTV News that the long-awaited sequel to the Will Ferrell comedy may shoot as soon as next February, that all the original cast would be on board, that it's based on a "bigger, crazier" idea than the original, and that all that's holding the project up is budget approval from Paramount.

McKay, whose latest Ferrell comedy, the police spoof 'The Other Guys,' comes out in August, told MTV that Ferrell, Steve Carell, Paul Rudd and the rest of the stars all offered to take pay cuts in order to make the sequel happen. Since the first film, McKay said, "everyone's prices went up and everyone's time got a little more valuable. But at the same time, graciously, Steve and Paul and everyone agreed to cut their price to come and do [the sequel], which you don't see very often in Hollywood -- and cut their price substantially. But even with that, it's just a budgetary thing with Paramount in terms of how much they'll give us to make it."

Excerpt from 'Anchorman: The Legend of Ron Burgundy'


The original 'Anchorman' earned $85 million in America -- not bad, but not blockbuster numbers -- and very little (just $5 million) overseas. So Paramount's skittishness over budgeting the sequel is understandable, McKay said, but he pointed to the example of the 'Austin Powers' franchise as a hopeful precedent. "'Austin Powers' didn't make a ton of movie in its first go-round, and then it caught fire in the next one," he said. "We're hoping they'll look more at that sort of projection."

McKay says that, if the money comes through, there would be a script revision this fall, with an eye toward shooting in February. He says that Ferrell, Carell, Rudd, Christina Applegate,and David Koechner have all approved the sequel's premise, which he won't divulge. Yes, the movie will move the '70s characters into the '80s, but the point isn't just to lampoon the decade, something the first movie spent a lot of time doing. "We have this other, bigger, crazier idea that's really more what it's about, which I can't say," he said. "Our thinking was there's just no way the second one is going to be as good as the first because the first one is the first one. So our idea is, if we're going to do a second one, we better go for it and try some insane stuf,f and we'll be enjoying it, and that way it can't be half bad."