NEW YORK: Will Ferrell's swashbuckling newscaster Ron Burgundy had his own breaking news to announce Wednesday night: A sequel to ''Anchorman'' is finally happening.

Ferrell made a surprise, in-character appearance on Conan O'Brien's talk show to regale the audience with a flute solo and declare a deal with Paramount Pictures.

A sequel to the 2004 hit comedy, ''Anchorman: The Legend of Ron Burgundy,'' has long been discussed.

Ferrell informed host O'Brien: ''It's official, there will be a sequel to 'Anchorman.'''

Earlier, Paramount had declined a musical plan put forth by Ferrell and director Adam McKay that also included a proposed Broadway stage show.

No details on the project were immediately available but McKay, producer Judd Apatow, and co-stars Paul Rudd and Steve Carell are expected to return.