Have an LG26Lx1D for about 3 years, dropped off by my son.(Figures).Power light just blinking, but went back to red.Removed back panel, and metal cover. Just above antenna/cable input, its a small fan,mine was full of dirt. Blow off dirt, and make sure its turning freely.
Install back the covers, an voila....its a miracle...its working again.
Good luck
You may find the fix for your tv on my site http://www.tvrepairhelp.webs.com/
I have the same symptom. Just curious if this is not a fuse?
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