I assume this is an lcd, not led tv. the flourescent backlighting's inverter unit has gone out. its usually a seperate ic card, so it is repairable, if you can source the part cheap
These blinks [flashes] are fault indication (Error Codes). From the number of blinks occur at one time switch ON, you can get an idea about the faulty circuit section inside it. This will make repair easy. These are called blinking codes. Make sure about the exact number of blinking of the standby/power LED, by switching On & OFF the set, for at least two times. Count it carefully. If you wish to get some details, check the site linked here. It has details about blinking codes, and fault locating procedure, to many popular brand TVs and other devices.
http://electro-medical.blogspot.com/
If blinks continue without any pause, the main board is faulty.
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Back - light problem. Check and replace damaged component/s at its back-light inverter board, or replace this board as card basis. If you wish to get some details; check the site linked here. Surf the site with patience. Pull up older posts. It will be best to replace the inverter board as card basis...
http://electronicshelponline.blogspot.com/
To some model sets; especially LED back-lighted types; the back-light inverter circuit will be part of the main power supply board [SMPS]. In such cases, the power supply board might need replacement. To some models sets, the back-light inverter and SMPS section circuit will be integrated at its main board itself. If so; the main board should be replaced. To some models of sets, all these section circuit will be integrated at its main board. If this is the case, you have to replace the main board.
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