Internet Information Services (IIS) fail to start webserver - HRESULT : 0x80070020 (Reason: Skype update)

Internet Information Services (IIS) fail to start webserver - HRESULT : 0x80070020 (Reason: Skype update)

Recently when trying to start the website using Inetmgr I am getting error that "The process cannot access the file because it is being used by another process. (Exception from HRESULT: 0x80070020)". Everything was working fine a day before. I checked the log and found that Skype was the only application that was updated the previous day. On checking the settings of the Skype I found that it is configured to use the port 80 which is the default port used by the webserver. I changed the port and the webserver started working.

Steps to change the setting in Skype

1. Tools -> Options -> Advanced -> Connection and un-check 'Use port 80 and 443 as alternatives for incoming connections'. 
2. Restart Skype.