Will Ferrell is to don a wine-coloured blazer once again as he reprises his role as Ron Burgundy in a sequel to Anchorman: The Legend of Ron Burgundy.

News of the sequel was first reported on Deadline.com, with Ferrell also appearing in character on Conan O'Brien's show on US television to announce the movie.

Watch the clip: www.youtube.com/watch?v=MrNA7RjU91I

Deadline.com reports that the film will reunite Ferrell with Anchorman director Adam McKay.

Original cast members Steve Carell, Paul Rudd and David Koechner will also return.

Both will write the script, with a source telling the website that the pair are "kicking around ideas".

The source added: "We didn't expect a week ago that this thing was going to get greenlit. It's been alive and dead so many times."