Audio and picture go dead red light blinks 7 times

A protection circuit has cut in - possibly due to a fault in the line output stage (flyback transformer could be short-circuit and horizontal output transistor could also be shorted).

Assuming the power supply/HT rail is all OK, replace the above parts, touch up any suspect solder joints, check and replace any capacitors (electrolytic and the tuning caps in the collector of the horizontal transistor - always replace these caps (rated at around 2kV - 6kV) whenever you replace the flyback)