The leader of the Lords, Lord Strathclyde, repeated the prime minister's statement on the findings of the Leveson Report on 29 November 2012.
In the statement David Cameron expressed "serious concerns and misgivings" over proposals for statutory underpinning to a new regulation system for the press.
In his 2,000 page report into the culture, practices and ethics of the press, Lord Justice Leveson recommended a tougher form of self-regulation, backed by legislation, to uphold press standards, to protect the rights of victims and people bringing complaints.
Mr Cameron said he accepted the principle of independent regulation but he was "wary" of legislation that had the potential to infringe free speech and the free press.
Labour insisted that a new press regulator should be established in law.
In the Lords, Labour peer Lord Mandelson accused Mr Cameron of "putting politics ... before the interest of the victims".
He said he supported Lord Justice Leveson's "very moderate and realistic set of proposals" and urged the government to implement them quickly.
Lord Strathclyde disagreed with Lord Mandelson's comments, and said it was "astonishing" to hear him complain about politicians being political.
Peers later heard a statement from Lord McNally, the leader of the Liberal Democrats in the Lords, setting out Deputy PM Nick Clegg's response to the report.
Mr Clegg had earlier told the Commons that he supported statutory self-regulation of the press, putting himself at odds with the prime minister.
Conservative peer Lord Fowler said Lord Justice Leveson had done an "enormous service" to the country by exposing "the corruption" in parts of the press and criticising the "inadequacy of the Press Complaints Commission".
The former journalist said the recommendations were good for the public and the press, and urged the government to accept them in full.
Former Liberal Democrat leader Lord Ashdown said the press had "overplayed their hand in their pre-emptive bombardment of Leveson" in the hope the report would be put aside.
He said they had "woefully misjudged both the public mood and the seriousness of the problem that confronts them" adding that the report was a "balanced reply".
Lord McNally agreed with Lord Ashdown's comments.
There will be a full day's debate on the Leveson Report in the Lords before the House rises for the Christmas recess.