Eddie Murphy is set to return to the role of Axel Foley in a fourth Beverly Hills Cop movie after Netflix secured the rights in a pact with original studio Paramount.
The two companies have struck a one-time deal with the option for a sequel, according to Deadline.
This arrangement allows Murphy and producer Jerry Bruckheimer to return to the franchise, 25 years after the release of Beverly Hills Cop III in 1994.
It’s not the first time Netflix and Paramount have worked together, with the streamer handling the worldwide distribution for sci-fi Annihilation and acquiring stealth sequel The Cloverfield Paradox in 2018.
The deal continues Murphy’s relationship with Netflix, which has already yielded the comedy biopic Dolemite Is My Name, securing the star some of the best reviews of his career.
The Beverly Hlls Cop series started in 1984 and follows Murphy as Detroit cop Axel Foley, who travels to California in order to investigate the murder of his friend.
Subsequent entries in the franchise contrived reasons for Foley to return to Beverly Hills.
Plans to revitalise the franchise have been afoot for years, including an unaired pilot for a television series in 2013.
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This sequel joins a crowded schedule for Murphy in the wake of his big screen comeback, with the star currently working on another belated sequel in Coming 2 America.
Murphy has previously stated his belief that a new Beverly Hills Cop movie would be his priority once that film had wrapped.
The 58-year-old has hinted that, once his current run of projects is over and he completes his planned return to stand-up comedy, his movie career may be at an end.
Murphy has been receiving Oscar buzz for his work as comedy icon Rudy Ray Moore, also known as Dolemite.
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The movie premiered at the Toronto International Film Festival and has achieved an impressive 97% approval rating with film critics on Rotten Tomatoes.