It’s been rumored off and on for many years now, but fans of the hit 2004 comedy Anchorman: The Legend of Ron Burgundy can finally celebrate: Anchorman 2 is officially happening.

Star Will Ferrell made the announcement in full character on tonight’s episode of Conan, which can be seen in a video below.

Original cast members Steve Carell, Paul Rudd, and David Koechner are all expected to return for the sequel, while the status of other originals such as Christina Applegate, Vince Vaughn, or Seth Rogan‘s “Eager Cameraman” character is not yet known.

Adam McKay will return to direct Anchorman 2 and write the script with Ferrell. The movie will be produced by Judd Apatow, as well as Ferrell and McKay’s Gary Sanchez Productions.

No word yet on a timetable for the sequel, but let us all hope that it will be the next project for everyone involved.

Video

[Source: via Deadline]