A hi-fi receiver typically does not have a power supply that you can simply remove the broken one and plug the new one in. They are not designed like desktop computers. Try to locate and fix the broken component first.
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If the red led is blinking fast (8x/second) the power supply is likely damaged and the unit will need to be serviced. If blinking slow, the most likely cause would be a shorted speaker connection. To help find the cause, unplug everything including the power and speakers. Connect only the power and try to turn the unit on. If the light doesn't blink, you know you have a shorted connection. Power off and connect the inputs and then power back on. If the light is not blinking, you know the problem is with an output connection. Just find the bad connection by process of elimination.
Power the unit down and remove all cables. If it still blinks when you power back on, you probably have a PS failure. I could not locate any fuses or circuit breakers on mine and had to return for service. There is a factory reset that can be performed by pressing and holding the surround mode and clear buttons on the front panel at the same time for 3 seconds.
To really help you would require a bit more detail. HDMI is the video part of the signal - the audio part may require additional cables. Also, source material may play a role. I'd start by seeing if you have some audio outputs from whatever your source is and connecting those to the Marantz. Beyond that, I'd need more info to be sure I was giving decent advice.
I am having the same issue as well. If you press "clear" "exit" and "surround mode" all at the same time, it will come back on. It seems to be an overheating issue. If you put a fan on it, it helps, but does not fix permanently. Anyone have any ideas for a permanent fix?