Paramount Pictures passed on a potential follow-up to the film last year, despite Anchorman taking around $90 million worldwide on a budget of only $26 million.
"Anchorman 2, you'd have to really assert some kind of email hate campaign to Paramount Pictures because they've told us, quote unquote, 'We've run the numbers and it's not a good fit'," Ferrell said recently, according to Cinema Blend.
"Everyone we tell the idea [to] loves it, except for the studio that owns the rights," he added, regarding his plans for the sequel. "Ball's in their courts, but they're being idiots."
The film was responsible for helping to launch Ferrell's career, and also brought attention to his co-stars Paul Rudd and Steve Carell.
Despite the lack of progress on Anchorman 2, Ferrell still has a number of projects underway, including the political comedy Southern Rivals opposite The Hangover star Zach Galifianakis.
Ferrell's latest film, the indie drama Everything Must Go, launches in US cinemas on May 13.