It can be bad power supply due to bad caps, bad backlights inverter board that draws too much current so the TV goes into shutdown/restarting cycle.
If you are going to DIY and have proper tools, electronics knowledge, and know safety precaution then please read on:
Basic troubleshooting guide here:
http://www.fixya.com/support/r5093881-lcd_flat_panel_tv_troubleshooting_guide
http://www.fixya.com/support/r6150077-basic_lcd_monitors_troubleshooting
http://www.fixya.com/support/r7406380-tv_training_manuals
Failed TV and Monitors pictures: http://s807.photobucket.com/albums/yy352/budm/
Learn about bad caps: http://en.wikipedia.org/wiki/Capacitor_plague
Parts: www.shopjimmy.com
Parts: www.interliquidparts.com
Capacitors kit: http://lcdalternatives.auctivacommerce.com/Default.aspx he can make you a set of caps.
Or www.digikey.com just make sure to use caps with low ESR, 105c, high ripple current, long life rating such as PANASONIC FM or FC series.
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