Well, Milan won it in 2007 by beating two English and one Scottish team in the knock-outs and what did you guys get there?
After a year they again stopped broadcasting serie A matches.
European success is an important factor, but it's not the most important one. The country of Italy, the Italian FA, the Italian teams etc should work harder and smarter in order to get back on top. One episode with a happy ending, as it was in 2007, will solve nothing. If some much bigger problems are solved, if more attention is being paid to marketing and long-term planning, then the success will follow for sure, and you won't need to pray that some Italian team will knock-out an English team.