The fans' outcry over Paramount cancelling the Anchorman 2 sequel could breathe new life into the project, according to Collider. The site spoke with Anchorman: The Legend of Ron Burgundy director Adam McKay, who said the fans' passion for Anchorman 2 was noted by Paramount. Here's an excerpt from the article:

"It did, it made a difference. Paramount heard it. Adam Goodman, the President of Paramount, was on the first one so he loves it and when that outcry came, he was kind of excited because he knew it could maybe push it towards happening. That having been said, I'm clearly going into it like another movie so if it does happen it's still two years away or a ways away. And I haven't talked to anyone. There's nothing happening right now but it helped, it helped."

While the film clearly isn't in development at this time, the overwhelming support for the sequel is surely not falling on deaf ears. We'll continue to keep you posted with any further news regarding Anchorman 2 as soon as more information comes in.