If the LED is blinking at a steady or even rate, this is in most
models, a failure in the high voltage output. The common cause is
failure of the flyback, and or the horizontal output transistor. If
one or both of these parts have failed, there may also be some failed
components in the power supply as well.
After changing the defective parts, the cause of the failure must be
found before putting the power back on. It is very common that some
capacitors and support components to be changed as well.
You should give the set to a service center that is qualified to work
on Sony sets. They would be able to properly service the set for you.
Jerry Greenberg
http://www.zoom-one.com