The fact that the light is flashing and you can't power up your set is telling me you have a bad power supply board, very common on all makes as the electronics these companies used to build the sets all have a bad bunch of capacitors that wer sold to the industry and they simply don't last. If you handy you can check your tv's boards for bad caps, they will be bulging or splittiting or warped.If you can replace thes that usually helps if nothing else shorted out when the capacitor blew. The boards are available all over the net if you want to try and change the board out for this.
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