Anchorman: The Legend Continues will debut in cinemas on December 20, 2013. The sequel reunites Will Ferrell, Steve Carell, Paul Rudd and David Koechner as San Diego's Channel 4 Action News team.
Director Adam McKay said that the action is likely to be set in 1978, as the team has to contend with the advent of rolling news.
Vince Vaughn is also likely to reprise the role of Ron Burgundy's arch-nemesis Wes Mantooth, with Christina Applegate tipped to return as Ron Burgundy's co-anchor and lover Veronica Corningstone if her schedule allows.
Kristen Wiig (Bridesmaids) is also rumoured to be joining the cast as a love interest for Carell's weather forecaster Brick Tamland.
Rudd, who plays field reporter and self-styled ladies' man Brian Fantana, recently revealed that principal photography will get underway in early 2013, and added that he is already growing his hair for the part.
Anchorman: The Legend of Ron Burgundy was released in 2004.
Watch Will Ferrell announcing Anchorman: The Legend Continues on Conan below: