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The Lebanese daily As-Safir is set to go out of print at the end of the year after 42 years in publication.

The newspaper's founder Talal Salman informed staff members of the decision during a meeting held on Thursday.

In early March Salman made a similar announcement stating that the newspaper would close its doors at the beginning of April.

However, a last minute injection of funding saw the daily paper push on with Salman stating in late March that As-Safir had "decided to remain operational, even if it is for a month or two".

One of Lebanon's best known papers As-Safir is regarded as a centre-left, pan-Arab publication. It has notably expressed support for Syrian President Bashar al-Assad in the country's ongoing war, and been accused of being funded by the Syrian regime.

Around 120 employees - including journalists, photographers, administrators, technicians, and security - are set to lose their jobs.

Questions are being raised over what forms of compensation they will receive. It remains unclear whether the newspaper will continue online.

A number of Lebanese newspapers and media outlets have reported experiencing financial difficulties in 2016.

An-Nahar - a rival of As-Safir founded by Gebran Tueni in 1933 - and Future TV - affiliated with recently re-elected Lebanese Prime Minister Saad Hariri, are also reported to have run into financial or internal difficulties.

Lebanon is a regional centre of media production in the Middle East and is regarded as having some of the most relaxed media laws in the Arab world.

However, as Freedom House , laws continue to exist banning news deemed contrary to "national ethics" and "religious feelings" while journalists can also face criminal charges for insulting the head of state or foreign leaders.