Will Ferrell, Adam McKay bid goodbye to production partnership after 13 years

Producing partners Will Ferrell and Adam McKay are splitting up after working together for more than a decade. Projects produced under their Gary Sanchez banner include "Vice," "Step Brothers," "Talladega Nights" and the Anchorman and Daddy’s Home movies.

In 2014, Jessica Elbaum founded the Gloria Sanchez production company as a sister label of Gary Sanchez Productions with a focus on female voices in comedy. The duo made the announcement on Sunday.

"The last 13 years could not have been more enjoyable and satisfying for the two of us at Sanchez Productions. We give massive thanks to our incredible staff and executives and all the writers, directors and actors we worked with through the years. The two of us will always work together creatively and always be friends. And we recognize we are lucky as hell to end this venture as such," Ferrell and McKay said in a joint statement issued to Variety.

According to the release, Gary Sanchez Productions and Gloria Sanchez Productions will continue with all existing projects through completion and that all current projects will continue to be developed by the attached producers.

"The duo is committed to working together creatively on their extensive slate of shared projects. They will continue to support each other both personally and professionally as they explore new endeavours as well as their own individual projects. Moving forward, any future projects they may partner on will go through their yet to be announced new ventures," it added.

(With inputs from agencies.)