Last night, Moviehole reported Rosewood and Taggart (Judge Reinhold and John Ashton) would be returning to the “Beverly Hills Cop” franchise in the upcoming 4th film. If you don’t remember, John Ashton wasn’t in the third film, and a new character (Hector Elizondo) was written in to take his place. Moviehole also reported screenwriters Derek Haas and Michael Brandt’s spec script “Dying Day” was being used for the story and it was being reworked with the Beverly Hills Cop characters.

Unfortunately, their news was a bit premature, as I just spoke to a very trusted source and they told me it’s not clear who will be back on “Beverly Hills Cop 4″ as the studio is hiring a new writer and they are starting over.

While I would love to see a reunion of the original cast in “Beverly Hills Cop 4″, with the studio hiring a new writer, it’s clear this project is nowhere close to being in front of the camera.  More as we get it.

Yesterday I posted the first part of my exclusive interview with producer Lorenzo di Bonaventura and after the jump is part two. In this part, Lorenzo and I discussed “G.I. Joe The Rise of Cobra”, what’s up with “Beverly Hills Cop 4″ and Jack Ryan, and he told me all about a project called “Red” - which sounded like it’s getting ready to move forward.

The big news on “G.I. Joe” is the film is 1 hour and 47 minutes. He also said since the movie comes out so close to Comic-Con, don’t expect to see too much footage there. He also talked about why people should be excited to see it.

Regarding “Beverly Hills Cop 4″ and Jack Ryan, it’s all about the scripts…which aren’t ready to go yet.

Finally we talked about a project he has at Summit called “Red”. The film is based on the Warren Ellis graphic novel and it’s about an over the hill gang of CIA agents that have been put out to pasture and a situation occurs that brings back the gang. Lorenzo compares it to “Oceans 11″ and “Sneakers”.

For more on all the projects, you can watch the interview after the jump. Take a look: