This is a RUSH transcript from "The O'Reilly Factor," April 8, 2011. This copy may not be in its final form and may be updated.

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BILL O'REILLY, HOST: In the "At Your Beck and Call" segment tonight: Our pal Glenn announced this week that he is leaving Fox News later this year, so we obviously wanted to find out what he's going to do.

(BEGIN VIDEOTAPE)

O'REILLY: So here's Beck, causing trouble again. Now, what's this I hear, you're going to retire now?

GLENN BECK, FOX NEWS ANCHOR: I'm going to Florida.

O'REILLY: I heard that. You're going down to The Villages.

BECK: Going down to The Villages.

O'REILLY: You're going to be the spokesperson.

BECK: I'm going to be -- I'm just going to be in plaid pants. The ladies in the Villages. Don't think I don't get the (INAUDIBLE).

O'REILLY: All right. Now, what are you really going to do? You don't want to do the TV gig everyday, and I understand that. I mean -- and I'm not being facetious now. It's hard work.

BECK: I know. America, I don't think you understand this. I do almost an hour of work everyday, five days. And I mean, I have breaks like every eight minutes or so.

O'REILLY: Will you tell the folks what you think you're going to do.

BECK: Yes, I will tell you that I believe -- and we were talking during the break -- that it's a new era. Things are changing in the world. And you know, Fox is -- there's no place to do cable news except for Fox. That's it. That's it. No personality -- I don't think you could go over to another cable network and have the ratings you have.

O'REILLY: The only cable network I could go to that would spike the ratings, Syfy.

BECK: I've seen that movie. Yes, OK. But we have to reach different audiences. We have to reach younger.

O'REILLY: So you're going to do more Internet stuff.

BECK: Internet stuff. Not necessarily just with me. You know -- I mean, Bill, you know my business. I'm multiplatform and do many different things.

O'REILLY: You're a mogul.

BECK: Right.

O'REILLY: You are a mogul. So you're going to develop programming not only for you but for other people on the Net. And you know, AOL just paid a fortune for that Huffington thing.

BECK: I didn't...

O'REILLY: You didn't hear that? Yes, she's running around New York wanting to buy a big condo now.

BECK: Yes, Arianna. No, no. Property values are probably going to go down a little bit.