According to IndieWire, Paramount has managed to strike a deal with Amazon for Coming 2 America. Since there won't be theaters to release into for the foreseeable future, the studio has worked with Amazon for a 125M deal for the sequel to the 80s classic.
The sequel will follow Prince Akeem (Eddie Murphy) as he prepares to become King of his country. During his preparations, he learns of a son in America. Akeem and his advisor Semmi (Arsenio Hall) will have to head back to America to groom this son to become the new crown prince. Joining Murphy and Hall to reprise his role will be James Earl Jones.
This kind of direct-to-streaming news has already become commonplace, but you can expect it to become moreso as things remain stagnant with COVID-19. With Regal shuttering all of its theaters for the foreseeable future, and AMC not far behind (the chain reports that they're in danger of running out of cash by the end of the year), titles will either have to shift to streaming or get shelved until the North American theater industry receives some sort of bail out.
After Christopher Nolan's Tenet made a meager $48M in theaters, this is the reasonable business shift for Coming 2 America and anything else that has a small enough budget to justify heading direct to streaming. However, Amazon must know something we don't. $125M is a big chunk of change to try and make back on streaming and VOD alone, and nostalgia will only get you so far.
