Yes, Global Moderators became Administrators, and existing Administrators became owners. I forget the exact reasoning, but I like to think it's due in no small part to the term "Global Moderator" being shit.
EDIT: The exact date the terminology changed was 15 January 2008.
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You haven't been on MSN in ages you whore. Don't bitch.
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And when was the last time you were on MSN?