Will Ferrell Announces ‘Anchorman’ Sequel on ‘Conan’ (Video)

"Old School" funny man Will Ferrell shows up in character to announce sequel to 2004 film "Anchorman"

Will Ferrell is back in burgundy. Ron Burgundy, that is.

The "Old School" star showed up in character as "Anchorman" character Ron Burgundy on Conan O'Brien's TBS show Wednesday night to play a little flute, let fly with a little sexual innuendo, insult O'Brien and … oh, yeah, announce that a sequel to "Anchorman" is a go.

"I came to make an announcement, and the announcement is I Ron Burgundy and Paramount have come to terms on sequel for 'Anchorman,'" Ferrell-as-Burgundy said, before jamming with O'Brien's band.

Watch his announcement in the video below: