Though Anchorman 2 was an apparent labor of love that required some persistent lobbying of the studio, and while a sequel to Step Brothers was touted at various points in the past, director Adam McKay is now making it clear that he and Will Ferrell won't be collaborating on any more sequels.
McKay was chatting to Empire on the occasion of a new edit of Anchorman 2 hitting US and UK cinemas. He said:
No, that's the last sequel we're gonna do. There's nothing more fun to me than new characters and a new world. And now we're releasing this alt version, we're totally satisfied. No Anchorman 3… I'm going to say definitely no. I'll actually say it in this case!
It's pretty clear in the full interview that he meant no sequels at all, not just Anchorman ones.
But I guess that Baxter-based spin-off that was never going to happen is now never going to happen with a cherry on top.