Al Akhbar wanted to break free of that formula. Its founding editor, a revered left-wing journalist named Joseph Samaha, found a London-based investment banker to underwrite the venture in 2006 while promising not to interfere with editorial content. Mr. Samaha envisioned a paper with a strong political commitment but no attachments to any particular party, and a refusal to be constrained by anyone.

“We are going to show that you can make a profitable paper without bowing to any government,” said Hassan Khalil, the banker, who is the paper’s chief owner, in a telephone call from London. “We wanted to make something new: a truly independent newspaper.” The paper broke even last year, Mr. Khalil said.

The handful of other owners include members of the staff. The paper receives no support from Iran, Syria or Hezbollah, Mr. Khalil said, despite accusations from its ideological foes that began even before the paper started printing.

Al Akhbar’s print circulation is dismally low, 10,000 to 15,000, though comparable to circulations at Lebanon’s other leading papers. The industry is fading here, as everywhere. But Al Akhbar’s Web site is by far the most popular of any Lebanese newspaper’s, and its editors see a broader audience for their product. They are starting an English-language version, set for introduction early next year.

Critics say the paper’s protestations of editorial freedom ring a little hollow, given that it operates under the tacit protection of Hezbollah, Lebanon’s most potent military force. It was reporters on the other side of the political fence, many Lebanese say, who took the greatest risks for their views in recent years, and paid the price. Samir Kassir and Gebran Tueni, critics of Syria and Hezbollah who worked for the older and more pro-American newspaper An Nahar, were both killed by car bombs in 2005.