Could Rupert Murdoch turn out to be the savior of CNN?

Not directly, of course. After all, his Fox News Channel is a blight upon the civic landscape — a right-wing propaganda machine whose elderly viewers are, according to a 2012 Fairleigh Dickinson study, even less well-informed than people who watch no news at all.

Nevertheless, I felt my pulse quickening last week when I learned that Murdoch is trying to add Time Warner to his international media empire. Among Time Warner’s holdings is CNN. And according to the New York Times, Murdoch would sell the once-great news organization in order to appease federal antitrust regulators.

(Murdoch’s acquisition would not affect Time magazine, a diminished but still valuable news outlet: Time Warner recently set Time adrift after stripping it of most of its assets. Time’s future is far from secure, but at least Rupe won’t have a chance to put Fox News chief Roger Ailes in charge of it.)

As you no doubt already know, CNN in recent years has fallen into the abyss. When I Googled up its increasingly ironic slogan, “The Most Trusted Name in News,” I was taken to a page at CNN.com dating back to 2003, complete with photos of former CNN hosts such as Aaron Brown, Judy Woodruff and Larry King, the seldom-seen Christiane Amanpour and others who evoke a better, more substantive era.

These days, unfortunately, CNN is known mainly for its endless coverage of the missing Malaysian jetliner and for a series of embarrassing screw-ups, such as its misreporting of the Supreme Court’s decision on the Affordable Care Act in 2012 and its false report that a suspect had been arrested in the Boston Marathon bombing (to be fair, CNN was not alone on either mistake).

Then, too, there have been a series of mystifyingly bad hires, such as the talentless yipping Brit Piers Morgan to replace Larry King and the creepy Eliot Spitzer to cohost a talk show. Even solid choices like Jake Tapper seem to disappear once brought into the CNN fold. Of course, it’s hard not to disappear when your ratings are lower than those of Fox and MSNBC.

Is CNN worth saving? Absolutely. Its journalistic resources remain formidable. It’s still must-see TV when real news breaks, which certainly has been the case during the past week. Folks who are able to watch CNN International (I’m not among them) tell me it remains a good and serious news source. Anderson Cooper is among the more compelling figures in television news.

But domestically, and especially in prime time, CNN has utterly lost its way — starting at the top, with its self-congratulatory president, Jeff Zucker, who wants us to believe that everything is proceeding according to plan.

The time for a complete overhaul is long overdue. If Rupert Murdoch can help usher CNN into the hands of a new owner that might actually know what to do with it, then bring it on.

Watch Dan Kennedy rave about Rupert Murdoch's potential purchase of Time Warner on Beat The Press: