Last month we reported that Anchorman: The Legend of Ron Burgundy star Will Ferrell revealed that the sequel was on hold, and then a few weeks ago David Koechnerrevealed they were trying to work out the scheduling. MTV Movies Blog recently spoke with the film's director, Adam McKay, who revealed they're currently pitching Anchorman 2 to Paramount and it could be shooting by February 2011.

"The stage we're at now is talking to Paramount and trying to get the money to do it," McKay told the site. It was said, however, that it still is unclear if they would get the go-ahead to make that start date. McKay revealed they would have to polish the script in the fall to be ready by that date, but the studio hasn't given the green light as of yet.

McKay also said that the main actors in the film - Will Ferrell, David Koechner, Paul Rudd, Steve Carell - had even agreed to a pay cut to get the sequel off the ground.

"It's a tricky movie because everyone went and did really well after it, so everyone's prices went up and everyone's time got a little more valuable. But at the same time, graciously, Steve and Paul and everyone agreed to cut their price to come and do [the sequel], which you don't see very often in Hollywood - and cut their price substantially. But even with that, it's just a budgetary thing with Paramount in terms of how much they'll give us to make it."

So for the time being McKay and his supporters are caught in negotiations, trying to make everything work out. "We had an idea and we contacted Steve and Paul and David Koechner and Christina Applegate and checked in with everyone and they were all game for it," McKay said.

We'll be sure to keep you posted on any further details regarding Anchorman 2 as soon as we have more information.