System is not able to subscribe to any channel, error_log shows 'Server has invalid release and token contains no base channels' .

Issue

Trying to register with Satellite server.  This system is not able to subscribe to any channel.  It is registered with the server, but without any channel subscription. Activation key using, is the only key available on our server.

#rhnreg_ks --activationkey 1-a9d492869f6385263aa999bbf27761ee --serverUrl https://satellite.fqdn/XMLRPC --force 
This system is not subscribed to any channels. 
RHN channel support will be disabled

In /var/log/httpd/error_log the following is logged: 

..snip..
RHN
29180 2010/05/27 10:48:17 -04:00: ('Server has invalid release and
token contains no base channels', 1000010055, [{'note': 'None',
'usage_limit': None, 'user_id': 1, 'org_id': 1, 'server_id': None,
'token_desc': 'RHN Management Entitled Servers', 'token_type':
'enterprise_entitled', 'token': '1-a9d492869f6385263aa999bbf27761ee',
'token_id': 1, 'deploy_configs': 'N', 'kickstart_session_id': None,
'is_base': 'Y'}]) 
RHN 29179 2010/05/27 10:48:19 -04:00: ('Server not subscribed to any channels', 1000010055) 

RHN
29179 2010/05/27 10:52:34 -04:00: ('Server has invalid release and
token contains no base channels', 1000010056, [{'note': 'None',
'usage_limit': None, 'user_id': 1, 'org_id': 1, 'server_id': None,
'token_desc': 'RHN Management Entitled Servers', 'token_type':
'enterprise_entitled', 'token': '1-a9d492869f6385263aa999bbf27761ee',
'token_id': 1, 'deploy_configs': 'N', 'kickstart_session_id': None,
'is_base': 'Y'}]) 
RHN 29513 2010/05/27 10:52:36 -04:00: ('Server not subscribed to any channels', 1000010056) 
..snip..