virtual machine - Ubuntu 11.04 VM shows a black screen in VMware Player

I have a Ubuntu Server 11.04 64 bit VM running on VMware Player 3.1.4 that only shows a black screen. No matter what I try, the screen remains black. The VM has worked the first time.

When I reset the machine, it shows the VMware loader and a flickering _ for about a second. Then the screen turns black again.

VM settings:

Memory: 512MB
Processors: 1
HD: 20GB
CD: auto detect
Floppy: auto detect
Network adapter: NAT
USB controller: present
soundcard: auto detect
printer: present
display: auto detect

I just created a fresh VM and the same happens, so it seems that the problem is consistent.