Beverly Hills Cop 4 is heading to Netflix. The streaming service has licensed the long-awaited sequel to the buddy cop franchise in a deal with Paramount, which had been developing the film for some time, Deadline reports.

Eddie Murphy previously confirmed his plans to suit up as Axel Foley for a fourth time in October, telling Collider that Beverly Hills Cop 4 was poised to be his next cinematic project, following another long-awaited sequel to one of his most popular films, Coming to America. "Yeah that's what we're doing after Coming to America 2. We're doing Beverly Hills Cop and then the plan is to get back on stage and do standup," Murphy told the site.

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Per Deadline's new reporting, Netflix purchased the rights to make the fourth installment of the franchise with Eddie Murphy and producer Jerry Bruckheimer, which marks an extension of Murphy's growing relationship with the streaming service. Murphy stars in the celebrated new Netflix film Dolemite Is My Name, and in July, it was reported that Murphy was circling a massive deal with Netflix to produce new comedy specials.

News that Bruckheimer, who produced the first two films, was pushing for Beverly Hills Cop 4 to happen has been swirling for years. In 2016, Deadline reported that the producer and Paramount had chosen Adil El Arbi and Bilall Fallah to direct the film, and in 2017, rumors swirled that the co-directors were interested in hiring Tom Hardy and Channing Tatum to star.

Murphy has made clear in the past that he would only return to the film series if the script was on point. In a 2015 interview with Rolling Stone, he said, "They still trying to get that script right. I'm not doing a Beverly Hills Cop unless they have a really incredible script. I've read a couple things that look like they can make some paper. But I'm not doing a sh---- movie just to make some paper. The sh-- got to be right."

The first Beverly Hills Cop, released in 1984, was a box office success that was nominated for an Academy Award for best original screenplay. Two sequels followed, in 1987 and 1994.

All three Beverly Hills Cop films are currently available to rent on Amazon.

Eddie Murphy, <em>Beverly Hills Cop II</em>Eddie Murphy, Beverly Hills Cop II