I am having the same issue with three separate monitors! I am quite frustrated that no part of the live cd will load for kubuntu 16.10. I get my bios splash screen, then the initial cd loading screen (ruler = CD), the Kubuntu logo, and finally the above message (or some variation on that depending on the monitor I'm using).
What is the deal? What is the default resolution for this thing? I have no problems with resolutions of 1680x1050 on all of my three monitors using windows. I have been searching for solutions, but I don't think there is one - they all require you to boot some type of command prompt and even with Ctrl-Alt-F1 I need to login (and I don't know the password for the live-cd).