Yes: Free speech is an inherently ambiguous concept that requires definition and interpretation.
Without having hard and fast guidelines as to what the meaning of free speech is, we allow ourselves to be placed in a position where anarchy can reign, and anyone will be allowed to broadcast whatever they like.
If we were to allow there to be no limits to free speech, this would mean the dissemination of material that is copyright would be perfectly acceptable. This of course would lead to material being available for free download which otherwise would only be available through legal means, such as going to the cinemas or buying a DVD. Without the monetary resources going into these, the poor executives at record companies and movie studios would find themselves destitute.
No: Nobody can be trusted as an arbiter of free speech; it is a God-given and inalienable right.
Many political theorists argue that checks and balances need to be put in place in order to prevent Governmental abuse. The right to freedom of speech is too important to leave in the hands of Government.
And as God has given us the right to have a freedom of speech this then mean that to place boundaries on this would be to place boundaries on God, and God is infinite, and therefore outside of the bounds that humanity place on him.