Coinciding with a new $16 million strong round of investment, Oberon Media has appointed David Lebow as acting CEO, effective immediately.

Lebow, who will also join the firm's board of directors, previously served as executive veep and general manager at AOL, having been largely accredited with transforming the firm into a potent consumer web portal.

Business brain

Oberon, which owns mobile publisher I-play, claims Lebow will focus on building B2B relations, as well as the firm's direct to consumer publishing segments.

"Oberon Media will leverage its assets to compete in the rapidly evolving - and expanding - digital games industry," Lebow said of his appointment.

"By navigating successfully through this dynamic market space, Oberon will be positioned to meet consumers' demands wherever and however they choose."

Leading leadership

The company has also confirmed the latest funding round was stumped up by internal investors, managed by Goldman Sachs Asset Management, Oak Investment Partners, and Infinity I-China.

It's funding Lebow believes has come at just the right time.

"Oberon Media has terrific potential for growth and expansion," he added.

"The company has built a worldwide franchise in a highly competitive industry. I look forward to working with the three founders, the board, and all of the talented Oberon staff in the coming days to expand on our position of market leadership, growth and excellence."