I found some stuff about it a
CNET's forums. Apparently if you are running XP or Vista and download the new WMP 11 and have "media sharing" enabled then it does this. It's suppose to do the same thing with 10 though. This is what i saw in the forum's that looked helpful at removing it.
1. In Windows Media Player turn off media sharing
in the library tab right click on it > click "media sharing" unclick the media sharing tab and click ok
2. Turn off the "WMPnetwk.exe" service
Under the "RUN" command in the start meni type "services.msc"
Scroll down to "Windows media player network sharing"
Double click and under startup type set to disabled
3. Uninstall Windows Media Player 11
4. Install WMP 10.