UPDATE (10:52 PM EST): News of the sequel was apparently first announced by Ron Burgundy himself, making a surprise appearance on Conan O'Brien's TBS talk show to be aired later this evening. Check out the full clip of Burgundy's appearance below to catch all the flute-playin' action. (My favorite quote: "Conan...you look like someone put a bright-red fright wig on a skeleton and chucked it out of a helicopter.")



Everybody break out the Sex Panther, because Ron Burgundy is back.

That's right: Will Ferrell has signed on to reprise his role as the oafish, teleprompter-bungling, chauvinistic San Diego newscaster in "Anchorman 2", the long-awaited sequel to producer Judd Apatow's2004 comedy hit. Also reportedly back for another go-round are Apatow, original director Adam McKay and co-stars Paul Rudd and Steve Carell (a scene-stealer in the first film as mentally-challenged weatherman Brick Tamland).

The news was broken by Deadline.

"Anchorman: The Legend of Ron Burgundy" took in over $90 million at the box office and served as uber-producer Judd Apatow's commercial breakthrough. The film also starred Christina Applegate, David Koechner and Fred Willard.

Excited for the sequel, Ron Burgundy fans? Sound off in the comments!