On his Twitter feed GhostPanther, Adam McKay, director and cowriter of Will Ferrell’s Anchorman: The Legend of Ron Burgundy, has announced that Paramount and the producers could not agree on a budget for a sequel, and since the studio owns the rights to Anchorman, the film is dead unless someone has a change of heart.

Ferrell had told EW in July 2008 that he and McKay were working on a story that could bring the classy newsman into the ’80s. “The audience will now allow us to do even crazier stuff,” McKay said, “and that’s really all we’re looking for in our careers.” In May 2009, Ferrell let it slip that he was expecting to meet with Paul Rudd and Steve Carell to discuss ideas and salaries, joking “Believe me, I’m not taking a pay-cut. No way!”

This is really the only Will Ferrell movie I would’ve liked to have seen a sequel to, and I’m guessing he would’ve had material good enough to make us forget all about Land of the Lost (which is what truly makes this a bummer for Ferrell). But I can get my Rudd and Carell fixes elsewhere, so I’m not devastated. It would have been fun, but it’s been six years since the first film. My life goes on… Though I do wonder how Baxter, one of our Best Supporting Pets integral in one of our favorite big-screen man vs. beast battle of wits, is. He would have lived long enough to have seen the ’80s, right? RIGHT?

How do you feel about a world without the possibility of an Anchorman 2?