I had the same problem and I repaired it myself.
This radio uses Taiwan manufactured capacitors on its circuit board and these tend to fail or pop open over time. You will need to open up the radio and replace the 4 largest capacitors on the circuit board.
If you are not technically able to do it as it requires basic understanding of electronics and soldering skills, you can consult an electronic engineer who can replace these parts for you.
Ken
February 2012