No picture when turned on, standby timer blinks 4 times then stops then repeats itself, blinking 4 times again

These blinks [flashes] are fault indication (Error Codes). From the number of blinks occur at one time switch ON, you can get an idea about the faulty circuit section inside it. This will make repair easy. These are called blinking codes. Make sure about the exact number of blinking of the standby/power LED, by switching On & OFF the set, for at least two times. Count it carefully. If you wish to get some details, check the site linked here. It has details about blinking codes, and fault locating procedure, to many popular brand TVs and other devices. http://electronicshelponline.blogspot.com/
Blinking codes details to many popular brand TVs are given. Surf the site with patience.
If blinks continue without any pause, the main board is faulty.

I believe that model has a logic board in it and that is what it sounds like to me. That is just off top of my head, but I believe if you will notice the standby light it will be blinking so many blinks and stop and then blink again. If so this is a code that you can look up on the Samsung web site and plug in your model and it should tell you what just say ~ 4 blinks means. I worked on so many and it has been a while but I believe the last one I had was a Samsung and I put a logic board in it. If I can be of any further assistance please let me know.

Five blinks - AKB circuit (automatic kine bias), the timer/standby indicator blinks for about 30 seconds then goes to the self-diagnosis function. Something is wrong with the video. Check video out, Q705, 732, 761 and other components on the C board, also check Q218, 219, 220 on the A board. In addition, unit could be in IK blanking, try turning up screen slightly.

• Five blinks - AKB circuit (automatic kine bias), the timer/standby indicator blinks for about 30 seconds then goes to the self-diagnosis function. Something is wrong with the video. Check video out, Q705, 732, 761 and other components on the C board, also check Q218, 219, 220 on the A board. In addition, unit could be in IK blanking, try turning up screen A2 slightly.
  

Blinking codes meaning:

• Five blinks - AKB circuit (automatic kine bias), the timer/standby indicator blinks for about 30 seconds then goes to the self-diagnosis function. Something is wrong with the video. Check video out, Q705, 732, 761 and other components on the C board, also check Q218, 219, 220 on the A board. In addition, unit could be in IK blanking, try turning up screen slightly.
  

Good luck:

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Since the TV is still receiving power, the problem is going to be with the TV's mainboard.  After you unplugged the TV and plugged it back in, you said the power light went out again, so I assume the standby light wasn't flashing again?  The flashing standby light is indicating an error code so my suggestion is to contact Sony for service options regardless if there is a warranty or not because service is the only solution to this situation.  Don't forget to provide them the error code or 4 flashes repeating.

Those blinks [flashes] are fault indication (Error Codes). From the number of blinks occur at one time switch ON, you can get an idea about the faulty circuit section inside it. This will make repair easy. These are called blinking codes. Make sure about the exact number of blinking of the standby/power LED, by switching On & OFF the set, for at least two times. Count it carefully. If you wish to get some details, check the site linked here. It has details about blinking codes, and fault locating procedure, to many popular brand TVs and other devices.
http://electro-medical.blogspot.com/
http://homenol.blogspot.com/
http://electronicshelponline.blogspot.com/
If blinks continue without any pause, the main board is faulty.

6 blinks means lamp thermal fuse blowing, replace thermal fuse.

See here

I'm having the same problem. My stand-by light blinks 3 times though. The tv clicks as if it is going to turn on, but it never does. Is there a simple solution to this problem?