Comedy fans everywhere rejoiced in celebration last month, when actor Will Ferrell made a surprise appearance on Conan to announce that Anchorman 2 is finally happening. Writer-director Adam McKay recently offered a few details regarding the sequel, revealing it will take place in 1978 or 1979.

"We know these guys never deal well with change, and the good thing is that there's a big blast of change coming, according to the regular timeline. We're going to be throwing a lot of innovation at them, and they're not going to handle it well. It's right when all the news started changing with the 24-hours news cycle in '78 or '79. All of a sudden, local news stations diversified and had Latino anchors and African-American anchors, and any time you're talking about diversity and the Action News team, that's always fun to deal with."

The script, which Adam McKay is co-writing with Will Ferrell, is still in the early stages thus far.

"We've done about two percent! Half a percent? We've got five pages of story notes and chunks of story. We're holing up writing for the next three months."

Adam McKay also teased that they are throwing around ideas for another epic brawl.

"We already have a couple of ideas for it."

Although no deals have been officially sealed yet, Anchorman: The Legend of Ron Burgundy co-stars Christina Applegate, Paul Rudd, Steve Carell, David Koechner, and Fred Willard are expected to return.