Being the baby of Anchorman writers Will Ferrell and Adam McKay naturally entitles Funny or Die to certain perks. Namely: Gaining exclusive access to an exclusive teaser trailer for the Anchorman sequel.

This (alleged) teaser sheet for the Adam McKay-helmed sequel of the 2004 cult comedy Anchorman has two of my all-time favorite things: Anchorman, and lamps.

In another clip from the upcoming Comedy Awards, the men behind Funny or Die—Will Ferrell and Adam McKay—discussed what goes into making a hit viral video. Adam McKay highlighted kitties and puppies, while Will Ferrell highlighted the raunchier hits. [NSFW]

From Head of the Class to Family Ties, all the formulas were there. The Will Ferrell-produced Big Lake was a parody of an entire generation of television. While this was successful on some levels, the show wasn't pitch-perfect.

We like Zach Galifianakis so much we won't ruin this post by complaining that anyone who first discovered him by watching "The Hangover" doesn't deserve to call themselves a Galifianakis fan. Whoops! Anyway, he is starring in a new film.

• More data about the Biggest Television Event Ever™: Some 31 million people tuned into the Jackson memorial on TV, and video sites report that they delivered more than 10 million live streams on Tuesday. [THR, VB]
• One TV person not pleased with all the Jackson coverage: Conan O'Brien, whose new Tonight Show has seen ratings drop as a result. [NYT]
• News Corp. has paid more than $1.6 million to settle court cases involving reporters in Britain who hacked into public figures' cell phones. [Guardian]
• Is Liberty Media going to bail out Harvey Weinstein? Let's hope so. [NYP]
• None of the major media companies appear keen on buying Twitter. [LAT]
• Comedy Central has ordered up a sitcom starring Napoleon Dynamite's Jon Heder, which will be produced by Will Ferrell and Adam McKay. [B&C]
• The title of Michael Moore's new movie: Capitalism: A Love Story. [NYDN]

Returning alumni Will Ferrell (as George W. Bush) and Tina Fey turned last night's Thursday edition of Saturday Night Live into a veritable class reunion, but one other notable name returned behind the scenes: Ferrell's frequent collaborator Adam McKay. Little over a month ago, McKay (Step Brothers, Anchorman) lit up the left with a sky-is-falling Huffington Post blog entitled "We're Gonna Frickin' Lose This Thing," but to judge from the opening sketch he co-wrote, he now finds the Republican ticket about as threatening as a Jackie Mason PSA. The clip, after the jump:Click to view

Hollywood's growing political skirmishes have savagely overtaxed our Defamer Decides '08 bureau over the last 24 hours, with the Oprah Winfrey/Sarah Palin fallout still flowing over the transom and even the formidable presence of Chuck Norris on Fox promoting his unique, Palin-proud brand of "black belt patriotism." Indeed, writes Anchorman/Step Brothers filmmaker (and occasional Huffington Post contributor) Adam McKay, the post-GOP Convention hangover is a potent one — or even potentially fatal, now that McCain has closed the gap on Obama. To which the saturnine scribe reacted with a deep gaze into his crystal ball and a reality check heard 'round the world: "We're Gonna Frickin' Lose This Thing":

Comedy-video startup FunnyorDie, a project cofounded by yuksters Will Ferrell, Adam McKay and Chris Henchy with Sequoia Capital's Mark Kvamme, has sold an equity stake to HBO of less than 10 percent. (FunnyorDie was valued at $100 million after the last round of funding; the new valuation, and HBO's exact investment, wasn't disclosed — if you know, please tell us.) In exchange, HBO also gets five hours of programming from Ferrell, McKay, Henchy and recent addition Judd Apatow.

Should this "Green Team" video, featuring the environmentally friendly, rape-crazed antics of Will Ferrell, Adam McKay and John C. Reilly, achieve Landlordesque viral penetration, "I have a murder-boner!" will soon become the most-invoked catchphrase at our nation's finest fraternity parties. [Funny or Die]

Since yesterday's first wave of mainstream media stories attempting to unravel the mysteries of Will Ferrell viral video sensation The Landlord (e.g., "Who is that totally adorable, hilariously inebriated tyke? She's a star!" and "What combination of shadowy vanity production company and venture capital firm is behind this FunnyOrDie.com situation?"), the clip has surged from 2.5 million to nearly 5 million views on the new video sharing site alone. The ensuing onslaught of media requests seems to be keeping Ferrell cohort Adam McKay busy, who offered People an exclusive interview with The Landlord's Pearl The Drunken, Swearing, Rageoholic Baby:

Since its debut late last week, Will Ferrell and Adam McKay's The Landlord has ridden the surefire blockbuster formula of mixing the world's biggest comedy star with a potty-mouthed, alcoholic baby to nearly 2.5 million views, an achievement of viral video dissemination not seen since Andy Samberg and Justin Timberlake cut holes in a pair of boxes and then inserted their engorged genitals into said boxes. This explosive success has sent the media scrambling to figure out who or what is behind Funny Or Die, the video-sharing site that launched with the Ferrell clip. THR tracked down the shadowy puppetmaster behind the new web venture for comment: