Adam McKay ended his production partnership with Will Ferrell as it was time to "start anew".

Adam McKay

Adam McKay

The 51-year-old director-and-producer had been working with Will, 51, under the banner of their company Gary Sanchez Productions for more than a decade on films such as 'Vice', 'Step Brothers', 'Talladega Nights' and the 'Anchorman' and 'Daddy's Home' franchises, but last month they announced they would be bringing an end to their working relationship.

Adam has now revealed that it was "the best time" for the pair to cease their Gary Sanchez Productions business, however, he insists it would be "heartbreaking" to never work with Will again, and teased they have an idea "kicking around".

Speaking to Empire, he said: "We both felt it had got pretty big and it was time to start up anew. It's the best time.

"We have an idea we're kicking around right now which we'd love to do. If he and I didn't work together, that would be heartbreaking. We're going to do everything we can to make sure that's not the case."

In a joint statement at the time, the pair 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 recognise we are lucky as hell to end this venture as such."

The announcement states that Gary Sanchez Productions - as well as its sister company Gloria Sanchez, which was set up in 2014 by Jessica Elbaum and focuses on female voices in comedy - will continue with all existing projects through completion and that all current projects will continue to be developed by the attached producers.