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Hi jimsercu,
By default, Windows 7 comes with Windows Media Player 12.
If you are running an 'N' version of Windows 7 sold in Europe, then you need to install the Media Feature Pack to obtain Windows Media Player.
Download details: http://www.microsoft.com/download/en/details.aspx?id=16546

If you don't have Windows 7 N, then you can try repairing the installation of Windows Media Player. Follow these methods.

Method 1: Try repairing the installation of Windows Media Player.

a)Click start, type Turn Windows Features on or off in the start search box and press enter.
b)Scroll down and uncheck the option media features.
c)Click OK. Restart the computer.
d)Follow the step a).
e)Scroll down and check the option media features.
f)Click OK. Restart the computer.
g)Try to play media player and check
For reference:
Turn Windows features on or off
Method 2: if still the issue persists, run the System File Checker (SFC) scan to fix any corrupted files.
Windows Media Player 10
How to use the System File Checker tool to troubleshoot missing or corrupted system files on Windows Vista or on Windows 7