You have blown output transistors. That may not be all even. First, visually inspect resistors R461, R463, R462, and R464. If any of the four appear "toasted", or discolored from heat, don't even bother putting the two 5A and the two 4A fuses back in, skip to paragraph 2. If the afore-mentioned resistors look ok, remove all four output transistors, fit new fuses and start it back up. If the fuses blow again, don't even bother putting any more back in, skip to paragraph 2. Even if the fuses hold, look for signs of heat and/or smoke from any of the driver transistors. If such is noticeable, pull the fuses and don't put them back, skip to paragraph 2. If everything appears normal, you can gamble on putting new output transistors in, and there is a good chance everything will be ok. However, if you want to be sure, and you have a DMM, and experience working on a powered up amplifier with the cover off (in other words, if you do harm to yourself, you are proceeding of your own free will, and you have been warned that this is dangerous if you do not know what you are doing), check the voltages on the pads where the output transistors should be. You should see either + or - 40V or so on the collector, zero volts on the emitter (and I mean ZERO), and just a few millivolts on the base. If there is abnormally high voltage on the base, say more than 100mV, skip to paragraph 2. If there is around 30mV on the base, it should be safe to fit new output transistors, do not proceed to paragraph 2

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Paragraph 2: The amp will cost more to repair than it's worth.:tears: Luckily, the preamp and tuner will still function well with the main amp fuses missing, and the unit can be used as such.:yes: It will be a good preamp (basically a 1240), a good tuner, and a decent phono stage.
Oh, by the way, I just did service on a 7240PE yesterday, so this is all fresh in my mind.