[Julian Disney made the comments after the Federal Court ruled News Limited columnist Andrew Bolt and his employer, the Herald Sun newspaper, had breached the Racial Discrimination Act when it published two articles challenging people's identification as Aboriginal.
Bolt says it is a "terrible day for free speech".
The plaintiffs in the case welcomed the ruling and said Aboriginal people could once again walk tall thanks to the judgment.
Federal Court Justice Mordecai Bromberg said that in the absence of the publication of an apology, he would make an order for the publication of a corrective notice.
In the final paragraph of his ruling, Justice Bromberg said maintaining free speech was crucial.
"It is important that nothing in the orders I make should suggest that it is unlawful for a publication to deal with racial identification, including by challenging the genuineness of the identification of a group of people," he said.
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"I have not found Mr Bolt and the Herald and Weekly Times to have contravened the act simply because the newspaper articles dealt with subject matter of that kind.
"I have found the contravention of the Racial Discrimination Act because of the manner in which that subject matter was dealt with."