BEIRUT — Lebanese daily As-Safir will not shut down, its editor-in-chief and publisher said on Wednesday, despite announcing last week it would close after more than 40 years because of falling revenues and Lebanon’s political and sectarian problems.

The paper is now looking for business partners to help it weather the tough economic climate Lebanese news outlets are facing because of falling circulation and advertising income.

“We are looking for partners, shareholders…in As-Safir company,” editor-in-chief and publisher Talal Salman said.

He said last week the paper would close on March 31 and that the demise of his and other papers in Lebanon – a country famed across the Arab world for its freewheeling press – jeopardized its claim to be the “country of freedom.”

As-Safir (“The Ambassador” in Arabic), founded by Salman in 1974 with the slogan “a voice for those who have no voice,” will continue to run print and online news operations with the same staff, Salman told Reuters.