Longtime producing partners Will Ferrell and Adam McKay are parting ways after more than a decade of working together. 

Together under the Gary Sanchez banner, Ferrell and McKay have produced Vice, Step Brothers, Anchorman and Talladega Nights. In 2014, they formed Gloria Sanchez Productions to focus on women in comedy. They issued a joint statement saying their parting was amicable.

They said: "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."

"The duo is committed to working together creatively on their extensive slate of shared projects," it added. "They will to continue to support each other both personally and professionally as they explore new endeavors 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."