Vulture reports that the two men have partnered with Sony Pictures Television to tackle the small-screen adaptation of the action comedy franchise. Along with taking on the role of executive producer of the series, Murphy will also be reprising his role as Axel Foley, a reckless detective who plays by his own rules and occasionally sticks bananas in tail pipes.
Despite Murphy's on-screen involvement, Detective Foley likely won't be the lead character in the series. The "Beverly Hills Cop" TV show will be a spin-off of the movie trilogy, focusing on Foley's son.
"What I'm trying to do with Beverly Hills Cop now is produce a TV show starring Axel Foley's son, and Axel is the chief of police now in Detroit," Murphy told Rolling Stone in November. "I'd do the pilot, show up here and there."
The ideas discussed in Murphy's interview may not be the ones that were pitched to network executives on Tuesday, notes the Hollywood Reporter. Sources at Vulture are claiming that they are certain the series will be a buddy copy comedy show, taking up a one hour time slot.
This announcement comes after years of rumors about a fourth film, possibly one with a "hard R" rating. There are no reports of L.A. cop Billy Rosewood (Judge Reinhold) being involved in the project.
The potential crime procedural program would fit the mold of most network stations, especially with Ryan attached to the picture. If the show is greenlit by networks, TV viewers could be hearing "Axel F" - the original "Beverly Hills Cop" theme - every week.
The original film was successful, holding an 83 percent fresh rating on Rotten Tomatoes and earning $234.7 million at the box office, according to Box Office Mojo. The two successors in the series didn't favor as well, with "Beverly Hills Cop II" and "Beverly Hills Cop III" only managing 46 percent and 10 percent freshness ratings respectively.
The third installment did particularly poorly at the box office. The film only grossed $42.6 million, earning approximately $8 million less than it cost to produce.
This wouldn't be Murphy's first venture in television. The Oscar nominated actor got his start as a cast member of Saturday Night Live in the 1980 to 1984 seasons, and since then he has worked as an executive producer and voice actor on the Emmy nominated animated series "The PJs."