Will Ferrell

A long-awaited Anchorman sequel has been confirmed by Will Ferrell, in character as Ron Burgundy on Conan! What better way to make an announcement, right?

Clad in his character's signature wine-colored suit, Ferrell appeared on Conan last night to say that he and Paramount came to terms on a sequel to Anchorman.

Both Brick Tamland (Steve Carell) and Brian Fantana (Paul Rudd) are slated to return along with Ron, according to reports, though they did not appear last night.

Only the anchor Action4 News anchor himself. Take a look:

Will Ferrell Announces Anchorman Sequel on Conan

The New Orleans Hornets are 4-22. It takes A LOT for this atrocious basketball team to make headlines.

Enter Will Ferrell.

The hilarious actor took over pre-game introduction duties last night, calling out the names of the starting players for both the Chicago Bulls and the Hornets, while adding the occasional random fact, such as how Emeka Okafor "minored in love" and Derrick Rose's favorite movie is The Notebook.

New Orleans then went out and lost 90-67. So this was easily the team's highlight of the season night:

Will Ferrell Pre-Game Introductions: Hornets vs. Bulls

Will Ferell is apparently a big fan of Old Milwaukee.

No, seriously, he is. Frank the Tank would be proud of this new set of ads his real life alter ego shot for the classic American lager that have since gone viral.

According to reports, Ferrell pitched the Pabst Brewing Company the idea himself, and agreed to do the spots unpaid on the condition that they aired locally.

In the ads, he lampoons his status as a Hollywood celebrity while fishing in the Mississippi River near Davenport, Iowa and drinking a can of his favorite brew.

He also engages in hand fishing for a "little piece of America," and extolls the virtues of Davenport as an "Old Milwaukee kind of town" ... one letter at a time.

Check out all three Will Ferrell Old Milwaukee ads below!

Will Ferrell Old Milwaukee Ad

When President Barack Obama authorized a Navy Seal team 6 to take out Osama Bin Laden in Abbottabad, Pakistan last weekend, the world was taken aback.

The world's most notorious terrorist, whose whereabouts (and whether he was even alive) were unknown for years, had been killed. It was a historic moment.

Naturally, Obama's predecessor, former President George W. Bush, used the occasion to speak on the demise of an old nemesis who eluded him for years ...

George W. Bush (Will Ferrell) Reacts to Osama Bin Laden Death

Conan O'Brien can't say he wasn't warned about the #beardpocalypse.

Last month, Will Ferrell made a Funny or Die video demanding Conan shave off his ginger beard or Will would do it for him when he came on his show May 2.

The comedian made good on his threat Monday night. As O'Brien sat waiting, Ferrell took a sip of "the blue stuff" used to disinfect combs and went to town!

Ferrell gave O'Brien a stack of 1970s-era "Playboy" magazines, asked him "Are you ready to feel the steel?" and let him have it with his razor, Excalibeard:

Will Ferrell Shaves Conan O'Brien's Beard

Starting with O'Brien's left side, Ferrell began to shave his beard and moustache, but not very well. He admitted he had only shaved dogs prior to this.

"That's horrible!" Conan exclaimed after looking in a mirror at his patchy facial hair. Then he took a hit of the blue stuff, and all was right with the world.

Just hours after sending Conan O'Brien into Tonight Show retirement with a rendition of "Free Bird" on his final episode on NBC, Will Ferrell was still rocking.

He and wife Viveca Paulin welcomed their third son - a boy by the rock n' roll approved name of Axel Ferrell! The little guy arrived on Saturday morning.

"All the Ferrells are well," said his rep, who confirmed the news.

Baby Axel joins older brothers Magnus, 5 1/2, and Mattias, 3.

Will Ferrell and Viveca Paulin, who met in an acting class 15 years ago and wed back in 2000 – announced her third pregnancy back in September.

Congratulations to the happy couple - and family!

He's as free as a bird now, and this bird you cannot change.

Truer words have never been spoken, and early this morning, a departing Conan O'Brien spent the last few minutes of his Tonight Show tenure jamming with none other than Will Ferrell on the classic Lynyrd Skynyrd farewell ballad.

Here's Will, Conan and his band doing "Free Bird" ...

Last Tonight Show with Conan: Free Bird

Conan's final episode was, in many ways, a somber one. He showed a picture of his staff and expounded on what hosting The Tonight Show meant to him.

"Every comedian dreams of hosting the Tonight Show and, for seven months, I got to. I did it my way, with people I love, and I do not regret it," he said.

Refraining from any well-deserved NBC bashing (probably because of his contract buyout), he thanked the network for making his entire career possible.

He did needle NBC for building a $50 million studio for him just a year ago, suggesting alternate uses for it going forward: Site of Tiger Woods' mistresses 1st annual reunion, water park for Max Weinberg's illegitimate children, etc.

Oddly enough, after the Hope for Haiti Now benefit Friday, NBC chose to air Dateline at 10 p.m., rather than the Jay Leno Show, meaning the final night of Conan O'Brien's career at NBC was the only one in which he didn't have to follow Jay.

As for his next move?

"As I set off for exciting new career opportunities, I just want to make one thing clear to everyone listening out there: I will do nudity," Conan boasted.

Follow the jump for a montage of some of the best moments from The Tonight Show with Conan O'Brien, the finale of which came a decade too soon:

Congratulations are in order for Will Ferrell and wife Viveca Paulin.

The couple has announced its expecting its third child together, a boy, due in January 2010.

Their baby will join big brothers Magnus Paulin, 5, and Mattias Paulin, 2. Let's hope he has mom's hair...

One hosted the event, the other may have been hiding out there to avoid bad reviews for his latest film.

But while both Neil Patrick Harris and Will Ferrell make us laugh, only one can be crowned the winner of this Fashion Face-Off.

The How I Met Your Mother star and the big-time movie draw are seen below on the red carpet for the 2009 Tony Awards. Who looks more dashing?

Who looks better?

Will Ferrell made his way down the red carpet at the premiere of Land of the Lost. The film, which is set to debut in America on June 5, opened to Australian audiences this week.

The movie is a remake of an old TV show. It follows Dr. Frank Marshall (Ferrell) as he navigates around an uncharted land that involves dinosaurs. The cast also includes Anna Friel and Danny McBride.

The movie looks like it is going to be a pretty typical Ferrell vehicle. The trailers have their funny moments, as well as the cheesy jokes that come along with any comedy from this star.

While we aren't expecting another Anchorman, we are just hoping that we don't have another Semi-Pro on our hands.

Check out more pictures of Will Ferrell and his red carpet antics below. Click on each to enlarge.

[Photo Credit: Splash News]

For the official trailer, follow the jump...