Paramount Pictures has just closed a one-time license deal, with an option for a sequel, that will enable streaming giant Netflix to produce a fourth installment in the “Beverly Hills Cop” franchise with both star Eddie Murphy and producer Jerry Bruckheimer returning.
Paramount has long been developing a new film in the series but it never quite took off with obvious concern over finances – not helped by the recent money loses on sequels to catalogue titles, including “Doctor Sleep” and “Terminator: Dark Fate”.
The deal gives Netflix a big title with a big star, and gives Paramount a risk-free opportunity to score revenue on a library title. Netflix will work with Murphy and Bruckheimer to get a script and director, finance the project and release it on the streaming service. No word as yet on a potential theatrical run.
Paramount and Netflix have previously done deals in the past over films such as “The Cloverfield Paradox” and “Annihilation”. Murphy recently scored raves for his work on Netflix’s recently released “Dolemite Is My Name” film, is in talks to make some comedy specials for the streamer, and is currently at work on Paramount’s “Coming to America” sequel.