Dear Paramount: Congratulations on making the worst studio decision ever.

According to the Twitter account of Adam McKay (Will Ferrell’s production partner and the co-writer/director of the original Anchorman: The Legend of Ron Burgundy) – Paramount Studios has passed on the project. Supposedly, McKay and Ferrell couldn’t get the sequel greenlit because Paramount was unable and unwilling to meet the prospected budget.

“So bummed. Paramount basically passed on Anchorman 2. Even after we cut our budget down. We tried,” McKay tweeted.

Bummer.

McKay followed that with: “To all who asked: no we can’t do Anchorman 2 at another studio. Paramount owns it.”

So let’s review: A Will Ferrell led sequel, co-starring some of the best actors currently in comedy, has been turned down. One whose predecessor banked $84 million dollars at the box office and later found a gazillion-ma-trillion new fans on DVD. Riiiight.

Money runs everything in Hollywood, though I guess there’s still a slight possibility that an agreement could be made. Even though it’s doubtful, I’ll still be playing the jazz flute of hope, praying to the winds that one day Paramount will beckon the Channel Four News Team to assemble once again.