Larry Flynt, the publisher behind Hustler magazine and other erotica, on Sunday mocked rival Hugh Hefner for Playboy's decision to stop printing nude photographs of women in a bid to reinvent itself.
"I knew [Hugh Hefner] was getting old but I didn't know he lost his mind," Flynt said on CNN's Reliable Sources, according to a transcript provided by the network.
It emerged last week that Playboy was planning to modernize itself by featuring provocative but "safe for work" photos of women, in addition to lifestyle content and investigative journalism.
The move was aimed at reaching a broader audience of young men used to viewing pornography online for free.
But Flynt, who first published the explicit magazine Hustler in 1974, criticized Hefner, 89, for dropping the "most important" and "notorious" feature of Playboy.
"I think it was a silly move," Flynt, 72, said. "They need to change their financial blueprint."
Flynt instead suggested Playboy should cut staff to recoup losses.
"I mean, no one can ever deny this guy [Hefner] the fact he paved the way for the sexual revolution, but he will not be remembered for his business acumen," Flynt said.