On the heels of Viacom CEO Philippe Dauman’s remarks this morning that Paramount will be returning to TV production, Paramount Pictures chairman and CEO Brad Grey just announced that the company is joining Sony TV as co-producer on CBS‘ Beverly Hills Cop pilot and potential series, based on the hit Paramount movie franchise. Dauman earlier today teased Paramount’s Beverly Hills Cop involvement, noting that the company plans to “get back, with very little investment, into the television production business.” Sony TV put the project, written by Shawn Ryan and exec produced by Ryan and Eddie Murphy, together and sold it to CBS where it has gone to pilot directed by Barry Sonnenfeld. As part of Sony TV’s rights deal with Paramount, the movie studio had the opportunity to join in, something which it is now doing. (Though the co-production deal is not official yet.)

Paramount used to have one of the largest TV studios, Paramount Network Television, which went to CBS in the 2005 split of Viacom, where it was merged with CBS Prods. Grey has plenty of experience to guide Paramount’s return to TV — he comes from a TV producer background as the head of Brad Grey TV, whose slate has included HBO’s The Sopranos and Real Time With Bill Maher and NBC’s Just Shoot Me!. Here is Grey’s memo: