It's official, Axel Foley is returning for duty...on Netflix. Paramount and the streamer have announced a deal for the long in development Beverly Hills Cop 4. They even tried to make it into a TV show with Murphy but it never came to pass. Not only do they have a deal with Netflix for the fourth film but they have an option for a fifth film, if this film is successful.
Paramount has been trying to make this happen for a while but is turning to Netflix in a move that could be mutually beneficial for each other. This move allows for Paramount to make money on a title in their library at a time where the studio has been struggling. This deal with Netflix allows them to avoid what happened on long gestating sequels like Doctor Sleep or the studio's own Terminator: Dark Fate, which have been costly gambits for studios.
For Netflix, this strengthens their relationship with Eddie Murphy after the critically acclaimed Dolemite is My Name and his upcoming stand up special. This also gives them another title with a big time movie star at a time where the streaming wars are fully being waged and every streamer needs whatever they can get. For us, it's a win-win because we get more Eddie Murphy on our screens.