How to remove Media Player 1.1 virus?

Several pop-up advertisements keep on appearing on my browser. It embeds itself on left, right, and lower portions of the browser and bearing the label “Media Player.” I did try to look at the extensions installed on my browser and saw this Media Player 1.1 installed by Enterprise Policy. Removing the check mark didn’t stop the ads from showing. Deleting the extension also didn’t help. Although I have successfully stop the ads by installing ad-blocker, however, after restarting the computer, it re-appears again.

I also notice that the extension has a not below it stating that “This extension is managed and cannot be removed or disabled.”

I have scanned the computer with several security tools like Ad-aware, Spybot, and SuperAntispyware, but none were found malicious. There are some tools recommended on various forums but I assume they are scam. They want me to register the program first before it can act on removing infected files on the computer.

Please help me get rid of Media Player 1.1 extension virus from this PC. I cannot browser the web freely. Also, this thing is slowing down my Internet connection.

Thanks in advance.