After spending years in development hell, Deadline confirms that the next Beverly Hills Cop is officially in development with a new name, Beverly Hills Cop: Axel Foley. In addition to Murphy, Beverly Hills Cop 4 will welcome Joseph Gordon-Levitt and Taylour Paige. The first Beverly Hills cop movie came out in 1984 and made more than $300 million at the global box office. It solidified Murphy as a bankable Hollywood actor. Unfortunately, the follow-up films didn’t do as well. After Beverly Hills Cop III only had a $119.2 million global box office take (against a $50 million budget), that was it for the once-successful franchise. But, rumors of a sequel have lingered since, including one that would’ve been directed by Brett Ratner as well as a legacy sequel series starring Axel’s son. Beverly Hills Cop 4 has enjoyed quite the journey. Paramount was initially in line to fund the project. Netflix eventually took over in 2019 and the pandemic stymied all progress. It has been three years since then and there’s finally light at the end of the tunnel. Mark Molley has signed on to direct Beverly Hills Cop 4 with a script from Aquaman screenwriter, Will Beall. Murphy is also producing the film alongside Chad Oman and Jerry Bruckheimer. Beverly Hills Cop 4 will see Murphy renew his partnership with Netflix after 2019’s Dolemite is My Name. The film currently holds a 97% critic rating on Rotten Tomatoes and is widely considered one of Netflix’s most successful originals. Hopefully, both the fourthquel as well as Murphy’s comedy movie with Jonah Hill will enjoy similar numbers.