Toshiba 50H81 Has Power but No picture or Audio

A red blinking light could mean that the lamp timer is at it's limit and it is time to change the lamp. You will also have to reset the lamp timer by pushing and holding down 2-3 buttons on the tv or remote. Refer to your user guide for the proper way to reset and or change your lamp.

It is very likely that one of the convergence correction chips has gone south on you (either that or a capacitor). What you want to look for is a swollen capacitor , or a burnt resistor near the two large heatsinks on the signal/convergence PCB. The flashing LED is an indication that the power supply has detected a fault, your mission is to determine what that might be. another thing to check out at the fuses on the power supply PCB (these have labels like FXXX were XXX is a number). If you find an open fuse, that will help determine where to look for the fault.

Something is keeping your power supply from starting up. Bad capacitor...most likely. Replac 'em all! They're cheap!

if you heard a pop that would be a capacitor unable to take the voltage, hopefully no other damage, you will need to identify the capacitors that have gone and replace the parts with the same number ie 40v 300uf 105c remember don't touch the 400v or 200v capacitors as they will still have power in them, discharge them by placing a metal object over the + and the - on the capacitor and then the board will be safe.it could also be the bulb has gone. you would need to check this as if the bulb has gone the tv will shut down. and flash but usually there is an led that flashes to tell you bulb failed.

did your TV just cut off in the middle of watching it and it want come back on. My red light beside the power button flashes also.

is your high voltage still comming up?
ok turning up screen controls with tv on. what do you see?

Sounds like a problem in the deflection circuits either vertical or horizontal. You may also want to check the solder connections in the tuner as they have been known to develop cracks over time. But the prior shrinking tends to say deflection problems.If I can assist you further please let me know.

most commom problem is convergance ic gone bad
http://home.earthlink.net/~oleg.filippov/ConvergenceFix.htm
http://cmpalmer.blogspot.com/2006/11/fixing-my-own-tv-part-ii.html

Did you check the supply fuses to the convergence ICs? Did you check the output resistors
other wise i would replace the convergence ic first.
http://home.earthlink.net/~oleg.filippov/ConvergenceFix.htm
http://cmpalmer.blogspot.com/2006/11/fixing-my-own-tv-part-ii.html

best advice is go get a manual book on how to fix tv