Other model numbers:  LN32C540 , LN32C540F2D, LN32C540XZC

This TV would go through the process of turning on but there was no backlight nor picture.  The front led would flash a few times and then go out.

All voltages tested good coming from the power supply but the main board did not appear to be sending the BL_ON (backlight on) signal.  When I disconnected the cable between the power supply and main board, the backlight came on.

Researching on badcaps, the main board appeared to require replacement.  The part number was 96-14917A.  I was able to find only one used board on ebay with part BN96-15158A.  According to Shopjimmy, the board was one of many direct substitutes.

With the new board installed, the TV powered up with a picture.

Since the capacitors are all crappy Samwa, I proactively replaced them.  Values for BN44-00338B are as follows.

CM858, CM859 – 1000uF/25V
CM853, CM854, CB851 – 2200uF/10V
CM851, CM852 – 1000uF/35V

CM808 – 18nF/630VDC polypropylene capacitor is also a common failure.  Digikey substitute part is 495-7139-ND.