Fourth 'Beverly Hills Cop' movie in the works at Netflix

Netflix is developing a fourth film in "Beverly Hills Cop" franchise, fronted by celebrated actor-comedian Eddie Murphy. Murphy's latest comedy "Dolemite is My Name" is currently showing on streaming platform. upcoming film will see 58-year-old actor reprising his role as Axel Foley, a street-smart Detroit cop who finds himself transplanted to tony streets of Beverly Hills.

first two movies in franchise were blockbuster hits, but 1994's "Beverly Hills Cop III" was a commercial and critical disaster.

Paramount Pictures released three previous films but has given rights of fourth movie to Netflix.

According to Variety, Bob Bakish, CEO of Paramount's parent company Viacom, confirmed news during a call with analysts on Thursday.

Jerry Bruckheimer will produce film for Paramount, which retains rights to intellectual property and first three movies. As per deal, Netflix can produce one more film in series.