HT201210 After downloading latest version of iTunes it will not open.  This error message is displayed;  The program can't star because MSVCR80.dll is missing from your computer.  Try reinstalling the program to fix this problem.  Then a second error box

After iTunes requested that I download latest version on PC it now will not open.  2 error messages appear.  first:  The program can't start because MSVCR80.dll is missing from your computer.  Try reinstalling the program to fix this problem.  second:  iTunes was not installed correctly please reinstall iTunes. Error 7 (Windows error 126).  I have tried reinstalling a number of times and restarting computer but no luck.

This happened to me today as well post installing the latest version of itunes.   I did a search on google for the error and came across a recommendation to :
Note: Start Windows in Safe Mode to complete any of the following steps if you're unable to access Windows normally due to the msvcr80.dll error.
If, and only if, you're receiving the msvcr80.dll is missing error when you open Apple iTunes, do the following: (skip this step if your msvcr80.dll error is occurring with a different program)
Uninstall from Windows the following five programs in this order: iTunes, Apple Software Update, Apple Mobile Device Support, Bonjour, and finally Apple Application Support. If you have iCloud, remove it as well.
Uninstalling these programs in Windows is done from an applet in Control Panel called Programs & Features (in Windows 8, 7, or Vista) or Add or Remove Programs (in Windows XP).
Note: Songs and playlists in iTunes will not be removed when you uninstall the iTunes program or any of the other, already-mentioned Apple programs. If you'd still like to back them up, they're usually located in the My Music folder in Windows.
Download the latest version of iTunes from Appleand note the location you're saving it to so you can find it once it's done.
Run the iTunes installation as an administrator. If you're not sure how to do that, see How Do I Open an Elevated Command Prompt? for help. That procedure shows you how to open the Command Prompt program as an administrator, but the steps are essentially the same for anything, including the iTunes installation package you just downloaded.
A general overview of removing and reinstalling iTunes can also be found here on Apple's site but the above procedure seems to work better in this particular situation.

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