Looks like the legend of Ron Burgundy is over.

Fans of 'Anchorman,' Will Ferrell's 2004 comedy about a goofy, egotistical '70s news anchor in San Diego, must remain in a glass case of emotion: Paramount Pictures has nixed the idea for a sequel.

The original 'Anchorman' was a comedic tour-de-force with Steve Carell, Paul Rudd, David Koechner, Christina Applegate and cameos from Luke Wilson, Tim Robbins and Ben Stiller, among others.

At a screening for Ferrell's new indie comedy 'Everything Must Go,' he told reporters he and creative partner Adam McKay are both ready to go on a sequel, but that Paramount owns the rights and doesn't believe 'Anchorman 2' would be a success.