Video: CBS Interviews Larry Flynt for 'Sunday Morning'

BEVERLY HILLS, Calif. — CBS' "Sunday Morning" yesterday televised a recent interview with Hustler founder Larry Flynt, finding out the latest goings on with the industry's most-colorful businessman.

Flynt in the nine-minute piece with CBS reporter Erin Moriarty was peppered with questions like, what's the future of Hustler magazine and what part of his company is churning the most revenue?

Flynt said that Hustler magazine's popularity is waning in its current form, with its circulation gently nose-diving to 100,000 a month from a high of 3 million about 40 years ago.

Flynt said that his company is working on a virtual magazine that should be ready in about a month.

"I treat Hustler the same way as I would if it was a jar of peanut butter or a can of green beans," Flynt told Moriarty. "You know, it's a product, and when you are not making money, you've got to move on."

Flynt, who says he has a net worth of $500 million, sees more cash coming from gambling, he said, noting his bet 14 years ago on the Hustler card casino in Gardena, Calif. 

The interview, which places a focus on his legacy and what got him there, also includes comments from Theresa Flynt, executive vice president of Hustler Hollywood.