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Netflix Partners With Paramount for ‘Beverly Hills Cop’ Reboot, Eddie Murphy Reprises Lead Role

Stephanie Sengwe

Eddie Murphy is making his way back to “Beverly Hills Cop” as detective Axel Foley. According to Deadline, Netflix and Paramount have signed a one-time license deal — with an option for a sequel — to make the fourth installment of the film.

This is the third deal between Paramount and Netflix. The streaming service acquired “The Cloverfield Paradox” in 2018 and launched it with a surprise Super Bowl spot and a release after the 2018 game. Netflix also acquired offshore rights to “Annihilation,” which starred Natalie Portman, 17 days after its U.S. release by Paramount. Netflix also made a similar deal with WarnerMedia’s New Line Cinema when it took on “Shaft” internationally.

The news comes as Netflix is looking to tap into the nostalgia marketing fellow competitors Disney+ and HBO Max are leveraging. In September the streamer garnered streaming rights to hit show “Seinfeld,” bringing the entire 180 episodes of the series globally to the service. Just yesterday, Netflix also announced they inked a multiyear deal with Nickelodeon for original animated movies and television series. Specials will be based on “The Loud House” and “Rise of the Teenage Mutant Ninja Turtle.”