According to Vulture:
Nearly a year ago, Eddie Murphy told Rolling Stone that he was interested in turning his classic 1984 action comedy Beverly Hills Cop into a TV show. Now Vulture has learned exclusively that the project is not only a reality, but that The Shield creator Shawn Ryan is leading the charge to resurrect Axel Foley. Multiple industry insiders tell us Ryan, Murphy and Sony Pictures Television have partnered on a small screen adaptation of the massively successful film franchise, and that broadcast networks began hearing their pitch on the spin-off this afternoon. And here's the kicker: In addition to his main role as an exec producer, Murphy has agreed to an on-camera role in the show.
ABC and Fox heard the pitch today, with NBC and CBS slated to take the meeting with Murphy and Ryan tomorrow. All four networks will likely make a play for the project, described as a light procedural. Sony Pictures TV, where Ryan is under an overall deal, is producing.
Whatever happens, I'll probably watch one episode and then forget about it forever; two, if Billy Rosewood and John Taggart come along for the ride.