Adam McKay, who directed both Anchorman movies and co-wrote them with Will Ferrell, said in an interview with Empire that the Anchorman series is over. Here's what he said:
"It’s done. I think that’s it. It was great to do it and it was so fun to work with those guys again, but I think that’s it for Ron Burgundy … 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."
When asked if he'd ever consider doing another Anchorman in 10 years, McKay [...]