On the occasion, ISIS declared that it no longer recognizes any borders between Iraq and Syria or a territory of these states. Many of ISIS flags are old al Qaeda flags. So, al Qaeda now has a state the size of which is comparable to the US state of Indiana.
The new state was also celebrated by execution of yet more Iraqi POWs.
It is also interesting to note that the declaration of the new state was delivered in Arabis and Russian with a heavy Chechen accent, in the latter case by Оmar Ash-Shishani, effectively the ISIS commander in chief, who is a former special forces officer of Saakashvili's Georgina Army and a veteran of the Russian-Georgian War over South Ossetia in August of 2008. His speech in Russian is here in 5:00-8:30 of the video:
A shorter version of the news together with other related news with English commentary:
In his speech, Omar Ash-Shishani says that ISIS is not only a state, but also a global enterprise that stretches from Europe to Indonesia. ISIS is recruiting its soldiers from everywhere. His position and use of Russian also indicates that 1) many ISIS commanders are from the former Soviet Union and so are their recruits--all enlisted in what is a vast geopolitical project, which not only wants to destroy former Soviet allies in the region, but ultimately Russia too--in line with Brzezinski's Grand Chessboard Game, where the "chessboard" is not really about chess, but it is rather a somewhat cryptic symbol of the plan for the New World Order by means of controlled terror and chaos by proxies such as ISIS.
The ISIS ceremony and their video also displays their spoils of war in the form of US military equipment.
Also, importantly, just before the declaration of the new name for their state (a Saudi colony), ISIS also formally reconciled and re-established its alliance with al Nusra, now the "official" Qaeda army in Syria and the key force behind the US-supported "Islamic Front." Also here etc.