Netflix has acquired the rights from Paramount to make "Beverly Hills Cop 4."
Deadline, which broke the news, said the studio has been trying to restart the franchise in several forms, including a TV show.
Even with producer Jerry Bruckheimer and star Eddie Murphy attached to the sequel, Paramount might have been a little nervous about the film's commercial prospects, especially because it has been 25 years since the release of "Beverly Hills Cop 3." And the studio (which will soon be part of the reunited ViacomCBS) has had a tough few months at the box office, most recently with the disappointing performance of "Terminator: Dark Fate."
Plus, Paramount and Netflix have already been working together, first with Netflix buying "The Cloverfield Paradox" and the international rights to "Annihilation," and then with a multi-picture deal between the two companies announced at the end of last year.
Murphy, meanwhile, has been getting some of his best reviews in decades for his performance in the Netflix film "Dolemite Is My Name."