Will Ferrell Blasts Paramount For Backpedaling on 'Anchorman 2'

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He also discusses upcoming project "Southern Rivals" and confirms that "Step Brothers 2" is still a possibility.

Will Ferrell has confirmed that Anchorman 2 is dead in the water.

Speaking at a press conference Friday for his upcoming film Everything Must Go, the comedic actor joined the ranks of people involved in the wildly popular first Anchorman who have accepted that a sequel will never be produced.

"Anchorman 2, you really have to assert some sort of email hate campaign to Paramount Pictures. They've told us, 'We've run the numbers and it's not a good fit,' " Ferrell said, according to Cinema Blend.

The actor, who rose to fame after the first Anchorman film and is set to replace Steve Carrell on The Office, also revealed that his upcoming political comedy with Zach Galifianakis, Southern Rivals, will center on two political rivals battling over the same position in a South Carolina congressional district.

He said the film's 2012 release will be timed to coincide with the presidential elections, and that it will "have comments on the circumstance now in modern day politics."

Ferrell also denied any knowledge of whether he has a role in the upcoming Zoolander 2, and teased the possibility of Step Brothers 2.

"Yeah, we just sat down with John [C. Reilly] and we were kicking around some ideas," Ferrell said. "So, you know, maybe. We'll see."

Everything Must Go, a comedy about an alcoholic who loses his job and wife and tries to start over by holding a yard sale, hits theaters May 13.