I had a similar problem a week or so back which said the same.
It wouldnt go in safe mode, bringing up the task manager said it wasnt running but it still wouldnt go.
Then a few attempts later it went just in normal windows
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Before you delete that file have you tried it in other players, it may just need some codecs that media player doesnt support ?
Go to properties and then summary and see what the audio and video type it is, it may be Xvid or Divx etc
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