Playboy Chief Hugh Hefner Has "Lost His Mind" Says Larry Flynt
"How can you take the most important feature of your magazine and drop it?"
Hustler magazine founder Larry Flynt thinks Hugh Hefner has "lost his mind" after the Playboy publisher decided to stop featuring nude women in the magazine.
Speaking on CNN, Flynt was asked if Playboy's move to become more like Maxim, GQ and Esquire was a smart decision, to which he replied: "You know Hefner is 90 now, I know he's getting old but I didn't know he'd lost his mind."
Asked to clarify his point, Flynt answered rhetorically: "How can you take the most important feature of your magazine and drop it? What it became notorious for."
Playboy's shift in strategy was brought about by changing tastes and falling circulation and ad revenue. Flynt suggested that instead of totally changing their "financial blueprint," Playboy should have cut costs. "You have to run a magazine like a business. When you lose revenue you've got to cut your fixed costs."
He added: "My editorial staff on Hustler is 7. [Hefner's] is probably somewhere between 40 and 50. I make a profit whereas he's losing money every month."
Flynt concluded with a backhanded compliment suggesting Hefner will be remembered for his role in the sexual revolution but will not be remembered for this "business acumen."