“All the world’s a stage,” Shakespeare wrote, 400 years ago. Now it’s more like all the world’s a screen.

As they pretty much have since the first attempts to regulate billboard advertising, during the Lyndon Johnson administration.

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What obesity is to Michelle Obama, billboards were to Lady Bird. They had mushroomed around the interstate highways that had begun to be built in the 1950s, blighting bucolic views, and she got LBJ to push for a law that was supposed to clear them away. That law, the Highway Beautification Act, was passed in 1965. Unfortunately, says Max Ashburn, spokesman for the D.C.-based nonprofit Scenic America, under pressure from an outdoor advertising lobby powerful then and now, the HBA has been so watered down it’s more like the Billboard Protection Act.

The only thing standing in the way of these industry game changers was the HBA stipulation against intermittent, flashing, or moving lights. LEDs had historically been understood to fall into that category.

Wachtel says drivers aren’t likely to admit that their eyes were locked on a flashy billboard when they crashed, but studies show that “if the signs take the driver’s eyes off the road for two seconds or longer, the risk of a crash goes way up,” especially in high-traffic environments like Chicago.

In fact, the first year’s proceeds from digital billboards ($15 million) were in the city budget that the council had already approved. Mayor Emanuel said the deal will guarantee the city $155 million over 20 years (he didn’t mention that the city will be footing all bills for construction), and will serve as an emergency broadcast system. JCDecaux issued a press release pegging expected revenue at $700 million, and co-CEO Jean-Francois Decaux proclaimed that “Chicago is becoming the Silicon Valley of digital outdoor media.”

The Scenic America suit was filed in January, and doesn’t seem to have been causing any sleepless nights for Emanuel or Interstate-JCDecaux. But the amended Illinois law carries this caveat: “The changes made to the Act . . . shall not be applicable if the application would impact the receipt, use, or reimbursement of federal funds by the Illinois Department of Transportation.”