KB ID 0000715
I saw this on a freshly built Server 2012 (Datacenter) server this morning.
First discount the obvious, make sure this server has internet access and is not going out via a proxy server, (unless you have configured the proxy properly for Windows Updates).
In my case the fix was simple, I’m assuming that because it was a new server, it was waiting on a reboot to do something with the Windows Update Service. I say this because after I rebooted it. (Press Windows Key+I).
The server was more than happy to start pulling down updates.
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