Thompson 160 gig box stuck on standby?

My Thompson 160 gig box is stuck on standby tried turning it off at the wall and back on then tried it again.Red light stays on. Any one know whats up with it, its been fine for 2 years and now this out of the blue.It was on, but no signal was coming through to TV so turned it off and this has happend.Is it time for a new one