It seems that this problem most commonly appears when a specific dll file becomes unregistered. You can use the regsvr32 tool to register the dll. See M249873 for information on regsvr32 usage and error messages. The links below provide examples of situations in which regsvr32 was used to resolve the problem.
One example when this may occur is when one tries to play multimedia files but the player does not support the format or the compression codec (i.e. trying to use Windows Media Player with avi files are encoded using an unsupported third party codec like DivX).
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