By Steve Kabelowsky Contributing Columnist Published Sep 17, 2014 at 3:03 PM

Before the musical acts take the stage this week in Las Vegas, Clear Channel made an announcement that will have an impact on the changing face of media.

Digital is the winner.

Clear Channel, the owner of iHeartRadio and the new annual concert and awards, announced this week that it will change its name to iHeartMedia.

"iHeartMedia reflects our commitment to being the media company that provides the most entertainment to the most engaged audiences wherever they go, with more content and more events in more places on more devices," said Bob Pittman, Chairman and CEO of iHeartMedia, Inc.

Placing all of the company’s holdings and hinging it on the success of its digital platform speaks volumes for a company that had more traditional roots – billboards.

And, they have a lot of them – "750,000 displays in over 40 countries across five continents, including 48 of the 50 largest markets in the United States."

The company also owns and operates traveling Broadway theater productions, and many come to perform in Wisconsin. In our market, Clear Channel owns WOKY-AM 920, WISN-AM 1130, WRIT-FM 95.7, WRNW-FM 97.3, WKKV-FM 100.7 and market ratings leader WMIL-FM 106.1.

"We have massive consumer reach and influence across our platforms because we know how to program the live content people want to hear, see and share right now, we are the largest mobile media company in existence  more than 60 percent of our broadcast usage is out of home, compared to just 30 percent for other mobile devices – and we deliver more live programming than any other media company today, built on the national and local on-air personalities who are the heart of our powerful broadcast radio franchises," Pittman said.

"Combined with Clear Channel Outdoor’s reach of over half a billion people worldwide across 30 countries and five continents, it’s clear that no other company can match our reach or broad spectrum of media platforms."

So, despite the fact of owning  859 radio stations in more than 150 markets with more than 245 million listeners – the firm decided to me more closely associated with iHeartMedia Digital, with 90 million digital monthly uniques.

That’s a leap of faith to align with a smaller corner of the overall business with the parent name of the business. But they didn’t leap all the way.

The outdoor advertising business will retain the Clear Channel name.

"Although we are changing the parent company’s name, Clear Channel Outdoor is built into the fabric of our multi-platform company," said Rich Bressler, President and Chief Financial Officer of iHeartMedia, Inc.

"With its continued growth into digital and mobile, Clear Channel Outdoor has tremendous momentum as a leader in the out-of-home advertising industry, and is a more integral part of our company than ever. We’re pleased that the Clear Channel brand, with its long history and respected heritage, will continue on in our Outdoor business."

Will other radio ownership groups seeking to stay relevant take on the name of a digital platform instead? iHeartRadio was created only three years ago.

Time will tell, but this may be the first big plunge into the pool that triggers a ripple throughout the industry.

FREEDOM: Fox Business will run "Special Report: Scotland’s Vote for Independence" anchored by Neil Cavuto from 4 to 8 a.m. Thursday. Cavuto will interview top business leaders and politicians to discuss the impact the monumental referendum vote will have on the global economy. FBN’s Ashley Webster will have live coverage from Edinburgh, Scotland.

ROUNDING OUT WHAT WE KNOW: Al Jazeera America will take an in-depth look at ISIL and its impact on the region with "Flashpoint: Fighting ISIL," airing at 7 p.m. on Friday. The hour-long special, hosted by Al Jazeera America anchor John Seigenthaler, examines the U.S. attempts to lead the coalition to combat the group.

"Flashpoint: Fighting ISIL" will also include a look at the plight of women in towns captured by ISIL and features exclusive reporting from Al Jazeera correspondent Josh Rushing. This September, Rushing completed a month-long reporting trip in northern Iraq during which he traveled the 600-mile frontline between ISIL and Kurdistan, and witnessed the coalition of militias fighting the terrorist group.

Steve Kabelowsky Contributing Columnist

Media is bombarding us everywhere.

Instead of sheltering his brain from the onslaught, Steve embraces the news stories, entertainment, billboards, blogs, talk shows and everything in between.

The former writer, editor and producer in TV, radio, Web and newspapers, will be talking about what media does in our community and how it shapes who we are and what we do.