US actor Eddie Murphy attends the WSJ Magazine 2019 Innovator Awards at MOMA in New York City on November 6, 2019. (AFP/Angela Weiss)
Netflix will produce a fourth sequel to Beverly Hills Cop, the 25-year-old franchise starring Eddie Murphy, who will return in the memorable lead role.
A spokesperson for Paramount told AFP Thursday that the studio had sold the production rights to the online streaming giant, confirming a report by industry specialist The Hollywood Reporter.
According to the Reporter, Murphy — who starred in the previous three chapters — will reprise his role as wisecracking detective Axel Foley.
Paramount had previously planned to produce Beverly Hills Cop 4 itself but dropped the idea in 2016.
The first three instalments of Beverly Hills Cop — released in 1984, 1987 and 1994 — earned $735 million dollars at the global box office and propelled Eddie Murphy, already known for his roles in the comedies Trading Places ( 1983 ) and 48 Hours ( 1982 ), to superstardom.
According to The Hollywood Reporter, Jerry Bruckheimer, who produced the first two films, will also helm the new project.
The deal is a significant one for Netflix, which has maintained access to various Hollywood studios, while Disney — which has just launched an eponymous competitor streaming platform — exclusively produces content from its own studio and Fox, which Disney owns.