The company currently faces a proxy battle from shareholders Harbinger Capital Partners and Firebrand Partners, which have snapped up 19% of the firm's publicly traded shares, and want to see a greater focus on digital investment.
The shareholders are seeking four seats on the board at the AGM on April 22, which is opposed by the Ochs-Sulzberger family, which controls the company.
Speaking at the annual Bear Stearns media conference in Florida, James Follo, the New York Times Company's chief financial officer, said that the only asset the media firm wanted to hold on to was The New York Times.
Follo said: "We are not married to any one asset, other than the New York Times newspaper. We're not going to do a deal until the valuation is right."
The valuation is one of the concerns of shareholders. The media company's shares are down 35% and the Firebrand and its partner have a hefty chunk of stock.
It is not the first time The New York Times Company has seen off unwanted attention. Last year, Morgan Stanley amassed a 7.2% stake and complained about poor management, but with a hostile 19% stake, the latest assault is more serious.
The investors want The New York Times Company to sell some of its other assets, particularly the Boston Globe, a minority stake in the World Series winning Boston Red Sox, other regional assets and the expensive new Midtown Manhattan building in Times Square.
However, chief executive Janet Robinson says the time is not right to sell up, particularly when the market is so low as the newspaper business in the US goes through its roughest time in years.
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