New York Times Co. Chairman Arthur Sulzberger Jr. on Tuesday disputed media reports of a possible sale.

"This company is not for sale," he told shareholders, calling recent media reports "ill informed", Reuters reported.

Speculation over a sale has arisen recently as the company's share has fallen close to 20 percent in the past 12 months.

Newsweek magazine also reported that New York City Mayor Michael Bloomberg have been urged to consider a bid for the paper to safeguard its editorial integrity.

"I am not going to go into the newspaper business," Bloomberg replied Monday, addressing press reports.

The Times' sliding stock price and decline in ad revenue has agitated some of its outside investors, who have publicly blasted its executives for poor performance, Reuters reported.

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