This 27" LCD TV is around 10 years old and suddenly stopped working with a pop. Given it's age there was nothing to lose by seeing if it could be fixed. With the power supply out it was clear the fuse had blown along with the blue ceramic capacitor next to it.
Fuses usually blow for a reason so I inspected the rest of the board for shorted or damaged components.
I found the main bridge rectifier D2SB60 was shorted along with the regulator IC STRW6053S.
The faulty components were common parts and easily sourced online. Testing with a load lamp showed the short circuit had been cleared by the new parts and the 5v standby voltage was now present. When the power supply was put back in the TV everything worked OK.
⚠ Safety warning - These power supplies operate at mains voltage and some components may retain a high voltage even with the power disconnected.