Drayton resurfaces at 121Media in the newly created role of UK chief executive.
The company, which is based in London and New York, provides ad-serving technology and behavioural targeting for advertisers and agencies. Behavioural targeting exposes consumers to advertising relevant to them, through the monitoring of web-use patterns.
Drayton left his role as managing director of the AOL-owned Advertising.com in April this year, less than 12 months after joining.
In a statement he put out in April, Drayton said he had left the company because Advertising.com was increasingly close to its AOL parent and because founder Scott Ferber had moved into the senior advertising strategy role.
Drayton left the Telegraph Group shortly after the Barclay brothers bought the company from Hollinger International in 2004.
He joined the group in 1994 as marketing manager. At the beginning of 2000, he was appointed managing director of Hollinger Telegraph New Media, and in November 2003, was appointed managing director of the Telegraph Group.