Will Ferrell: Salaries shelved Anchorman 2
Speaking to Collider, the actor, who took on the role of news anchor Ron Burgundy in the first film, said it wasn't possible to make the sequel on a small budget because of the actors' potential salaries.
"If you're getting myself, Steve Carell, Paul Rudd and probably a bunch of other people who would line up to be in that movie, it's going to cost a certain amount," he said.
"We were basically begged to for years and years, like, 'Would you guys ever do a sequel? Would you ever do a sequel?' We warmed up to the idea and we were like, 'that could actually be a lot of fun'."
He said that when they agreed to do the movie, the actors were told that they had to do it for a small budget, which they refused to do.
Anchorman: The Legend of Ron Burgundy was released in 2004 and also starred Christina Applegate.