"Afternoon Delight" is not the end of the Channel 4 News Team's musical ambitions.
As co-writer/director Adam McKay explained back in 2010, the original plan for Anchorman 2 was to make it an all-out musical, spending four months with it on Broadway before jumping into filming. The plan was quickly abandoned once Paramount informed McKay that he would definitely not be doing any of that, as it would not make any money, but now that the studio has somehow agreed to okay Anchorman: The Legend Continues, it seems some of the old musical ideas might still make it through. Though the Broadway plans are shot, and it's unlikely the film will quite be called a "musical," speaking to ThePlaylist, McKay has confirmed that the sequel will have "whole song sequences, absolutely." And as was done for "Afternoon Delight" and Step Brothers' similarly a capella rendition of "Sweet Child O' Mine," the singing will be recorded live on-set, so you aren't so special now, are you, Les Misérables?
Put this news with McKay's previous hints about the film, best we can piece together, it sounds like we're getting a movie in which Ron Burgundy will sing and bowl for dollars to win custody of his child. Basically, Paramount were idiots to not want to do this. Nice job, idiots.