Passage: The end of Muzak

(CBS News) It happened this week, the biggest news in music this side of the Grammys.

We learned of the demise of "Muzak" -- not the music, just the name.

In a re-branding by parent company Mood Media, Muzak will henceforth be simply known as "Mood."

Founded nearly 80 years ago, Muzak was the music that got no respect -- long-derided in our popular culture as mere "elevator music."

In the 1980 film "The Blues Brothers," John Belushi and Dan Aykroyd find brief musical respite from a chaotic police pursuit in an office building elevator.

While in 1998's "A Night at the Roxbury," Will Ferrell and Chris Kattan fall victim to Muzak's supposed hypnotic effect.

Stereotypes aside, Muzak has been breaking its old elevator mold, actually programming REAL songs by REAL artists -- and fooling the customers Richard Schlesinger found in an ice cream store in 2007:

"That's not Muzak," said one. "Muzak puts you to sleep."

Not any more! When "Sunday Morning" visited Muzak's South Carolina headquarters back in 2010, we found two dozen young so-called "Audio Architects" programming music for every type of store and business.

And NO Muzak at all in Muzak's own elevators.

Somehow, Muzak has become cool

So, will Muzak by any other name still sound like Muzak? Stay tuned . . .