Yes, that would be damaging to free speech. For it would end up with the law courts enforcing an official truth. It could result in a de facto theocracy.
I am admittidly conflicted on this point. On the one hand I can appreciate the importance that freedom of speech has in developing and strengthening arguments for or against an idea and that this requires that the idea being presented not be censored. On the other hand, in my humble opinion, news should be a product for the common good, through the dissemination of facts and knowledge. Protecting citizens from the dissemination of falsehoods should be an important part of a regulatory spirit. Not enough censorship can be just as bad as too much, especially when a news source is couched as being fair and balanced and is patently not so. News programs should belong in the same category as our public school system. While we can not police everything that is taught in the schools (*recently Sharron Angle admitted she taught students creationism in her class), we can try to prevent falsehoods being promulgated through the system.*
*Perhaps not the best analogy by any means, as I can see the holes, but I hope you get my drift.