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Ron Burgundy (Ferrell) is the top-rated anchorman in San Diego in the ’70s. When feminism marches into the newsroom in the form of ambitious newswoman Veronica Corningstone (Applegate), Ron is willing to play along at first-as long as Veronica stays in her place, covering cat fashion shows, cooking, and other “female” interests. But when Veronica refuses to settle for being eye candy and steps behind the news desk, it’s more than a battle between two perfectly coiffed anchor-persons… it’s war.

Mitch, Frank and Beanie are disillusioned with their personal lives begining when Mitch’s nymphomanic girlfriend, Heidi, cheats on him, then former party animal Frank gets married, but unwilling to get go of his wild life, and Beanie is a family man seeking to reclaim his wild and crazy youth. Beanie suggests that they form their own fraternity in Mitch’s new house on a college campus to re-live their glory days by bringing together a variety of misfit college students, losers, middle-aged and elderly retirees as their new friends and later try to avoid being evicted by the new Dean of Students, Pritchard, whom still holds a personal grudge against all three of them.