Director Adam McKay has revealed there will be no more 'Anchorman' sequels.

The filmmaker quashed all hope for a third installment of the side-splitting comedy franchise by confirming 2013's 'Anchorman: The Legend Continues' would be the last outing for hapless newsreader Ron Burgundy, played by Will Ferrell.

He told Empire magazine: ''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.

''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'.''

The sequel notched up an impressive $169 million worldwide to date at the boxoffice, compared to the first film's $95 million, after cultivating a cult status since the original's release in 2004.

Meanwhile, McKay revealed he was prioritising his long-awaited remake of the 1970s comedy, 'Uptown Saturday Night', with Will Smith as his next project.

He explained: ''You never fully know, but that's the one I'm putting my chips on for now. We're working on the rewrite with Nick Stoller and it's getting really good.

''We already did 'The Other Guys', I didn't want to go into the traditional buddy film genre, I want it to be something different and I think we found it in the last week.''