Have you ever wanted something so bad you could taste it? We felt that way about the sequel to the 2004 workplace comedy Anchorman and guess what? It’s not happening. After months of rumors and false hope, Paramount has officially given the Adam McKay project the shaft.

A few days ago, McKay was in high spirits about directing Anchorman 2 and getting the old gang back together including Will Ferrell, Steve Carell, and Paul Rudd. The biggest obstacle that stood in the film’s way was its budget. All the actors who appeared in the primary roles have had huge surges in their careers, which means their pay rates have gone up significantly. But even when McKay went in and shaved down the price tag it still wasn’t enough to save Ron Burgundy and the rest of the gang.

According to McKay’s Twitter, “So bummed. Paramount basically passed on Anchorman 2. Even after we cut our budget down. We tried.”

Damn! Damn! Damn! We understand that Anchorman wasn’t a complete financial success ($86 million domestic) but if you can make a sequel to Deuce Bigalow Male Gigolo, you can give it a chance. If the actors and the director are all willing to return for a cheaper price there’s no reason why Anchorman 2 shouldn’t be in development right now. Something smells fishy and we don’t like it!

Why do you think Paramount passed on Anchorman 2?