When you switch the TV on the "on" button is red however there is no picture and then after a few seconds it switches itself off.....
SOURCE: 42 inch LG Plasma TV - Lost picture
Our LG 50" plasma tv screen went black after a popping noise but still had sound, after great diliberations decided to take the back off and have a peek!
We unplugged the tv and tested the fuses (there were three we could see) one had blown, the one on the left as you look at the back of the tv it also has one above it. We wrote the code/seriel number down and took the fuse to the electrical wholesalers Maplin and bought a pack of 10 fuses for £1.29 replaced the fuse in the tv and everything now fine!!!!!!
Hope this might be of use to anyone whose lost the picture after a loud popping/snacking noise but still has sound.
SOURCE: LG TV
There is probably a bad capacitor on the power board, I had the same thing happen to my 42LB1DR after 2 years. T.V. would turn on and white power light would blink, no pictue and no sound. If your'e a diy'er, it is not that hard of a fix. Take all the covers off of the back of the tv(UNPLUGGED!!!), then look at all the capacitors on the power board. 
These are the capacitors, look to see if any of them appear to have a bump on the top of them. They are supposed to be flat, you can also tell if one of them has gone bad if there is an oily substance on the metal cover that was removed. If one of them is in question, carefully remove the board, and take it to an electronics store to have them sotter ?sp on a new capacitor. It ended up costing me around $40.00 to have this done. Good luck and if you are not comfortable trying this, than take it to a repair shop, but I was quoted around $450 to take the T.V. in. No Thanks
SOURCE: lg 50pq3000-za plasma tv will not switch on from
power problem possible fried power capacitors
possible cause power surge could occur if unplug while tv on
must change 6 power capacitors
these original capacitors are on the low end minimal ratings
1-2 hours in house labor, cost est $200 plus minus
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