Yep it is dying. My Brother had the same problem with his 17" Monitor. The Monitor is still useable, if the flickering does not bother you too badly. However at today's Labor prices it is not worth fixing.
So you can put up with the flickering, or buy a New Monitor. The Monitor that you have will still have years of service life left.
Today Monitors are shielded so well that there should be no problem with using them side by side.
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