Adam McKay, writer/director of the original ‘Anchorman,’ confirmed via twitter that Paramount passed on producing a sequel. They couldn’t agree on a budget, but McKay said that they passed even after he reduced the budget. He also clarified that Paramount owns the film, which means they cannot bring it to another studio. Another studio could always pay Paramount for the rights to produce the film, but that’s extremely unlikely here. Studios rarely make comedy sequels. They never make as much money as action films, and the cast usually requires a hefty salary.