Lance Armstrong

CBS newsmagazine 60 Minutes is refusing to issue an apology to Lance Armstrong about a story it ran alleging the seven-time Tour de France winner may have used performance-enhancing drugs, according to The Hollywood Reporter.

CBS News chairman and 60 Minutes executive producer Jeff Fager issued a statement late Wednesday, calling the report "truthful, accurate and fair."  

Check out photos of Lance Armstrong

The segment, which ran on May 22, revealed new allegations that Armstrong possibly used drugs while competing in the 2001 Tour de Suisse. Armstrong's former teammate, Tyler Hamilton, appeared on the news program and said that Armstrong talked about using endurance-boosting EPO and that cycling officials helped him cover up a positive test result at the Tour de Suisse, a lead-up to the Tour de France.

Armstrong's lawyers sent a letter to CBS early Wednesday demanding an apology and saying the May 22 piece was bad journalism and a report built on falsehoods. They have also set up a website to discredit the 60 Minutes story.

Watch the 60 Minutes segment here: