According to the Newspaper Association of America, newspaper ads have taken a huge dive in the first quarter of 2009—a whopping 30% decline compared with last year’s sales.

But online revenue has also fallen—though a less dramatic cut at 13.4%. In fact, online news sales are even being compared to airlines in their price discrimination.

In both print and online media, the biggest drop was in classified sales, an area that has seen a 42.3% cut. And who can blame people for not buying ads these days when there’s Craigslist and other free ad hosting services available?

Media analyst jack Myers says that this is just the beginning. He’s predicting another round of losses at 22.5% this year.

It’s being reported as the most difficult struggle in the history of news. Some people are even predicting that by the time 2015 to 2020 arrives, there will be no more major metropolitan daily papers—and that the last newspaper will be read in 2043.

With thousands of job losses and offices closing their doors left and right, it doesn’t feel like an off prediction, either. At least 11 metropolitan daily newspapers have died since March 2007, including the Rocky Mountain News, the Baltimore Examiner and the Tucson Citizen.