Steam version of oblivion not working?

So i bought it from steam because it was 66% off. It's the GOTY deluxe edition. I've had the game before but i lost the cd. It ran PERFECTLY on my pc on highest settings. NOTHING wrong with my system specs. Also i have updated my drivers. But every time i run the game, the launcher is fine and the first part of the intro is fine, but just when i get to the first actual loading screen just before the main menu, my screen goes black and i get a message saying: Oblivion has stopped working. Why does this happen? I've also tried running the .exe directly from the folder, both the launcher and the game itself. I've tried verifying the files using the option on steam. I have not modded it in any way. Please help me, i need something to keep me busy until skyrim is out (: