What is the defence of fair comment in a defamation case?

The conclusion of the appellants that the charge was dismissed due to insufficient evidence is, in my view, a fair inference to be drawn from the language used by the magistrate and represented the honest belief of the author of the articles in question. Thus, no matter that people may read all sorts of innuendoes into the words used by them, the appellants have a good defence of fair comment. As stated by Lord Denning in Slim v. Darby Telegraph Ltd., [1968] 1 All E.R. 497, at p. 503: "In considering a plea of fair comment, it is not correct to canvass all the various imputations which different readers may put on the words. The important thing is to determine whether or not the writer was actuated by malice. If he was an honest man expressing his genuine opinion on a subject of public interest, then no matter that his words conveyed derogatory imputations: no matter that his opinion was wrong or exaggerated or prejudiced; and no matter that it was badly expressed so that other people read all sorts of innuendoes into it; nevertheless, he has a good defence of fair comment. His honesty is the cardinal test. He must honestly express his real view. So long as he does this, he has nothing to fear, even though other people may read more into it."