Anchorman - The Legend of Ron Burgundy is surely not Will Ferrell's most successful film but surely one of the most iconic ones and invites viewers to watch it several times. After a long time of uncertainty, Paramount could finally be convinced to order the sequel The Legend Continues.

The first part was PG-13 in cinemas and got an Unrated Cut on DVD and Blu-ray later on. It was only a little more daring but still too much for American standards and the PG-13. We have a comparison here.

For the sequel, the makers flirt with the idea of the "R" rating in cinemas but maybe that only happens outside of the US since the MPAA normally doesn't allow double releases with differing ratings in the States.

These considerations were triggered by Hansel & Gretel: Witch Hunters, where Anchorman director Adam McKay was involved. There, discussions about PG-13 or R arose as well, with the "R" version finally being released in cinemas. Despite box office success, Paramount felt that a PG-13 would've gained more revenue. In order to avoid this dilemma with the upcoming Anchorman sequel, there's the aforementioned talk about two versions in different territories.

McKay: "What we're trying to find out now... Now, with the international film market, there's the idea of releasing two versions. Which I have no problem with. We are kind of loosely discussing it with Anchorman: The Legend Continues too. That, to me, would be the perfect answer. Because then people can see what they want to see. That's all I care about. There is a discussion about doing an R version and a PG-13 version." (Source)

Nice plan, but it's doubtful whether that becomes a reality. How many kids will watch a comedy in the US when they know that it's the harmless version while others get the "R"? And even if the US only get the PG-13, who's to say that a comedy with such a specifically American focus will have that much success outside of its home market, even though it is longer in those territories? There are examples (e.g. Carriers) but that's not very realistic. Realistic is, however, that the upcoming Blu-ray will have the racier version on board later on.

A theatrical release is currently scheduled for the US and UK on December 20th, 2013.