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"The ladies are hurt," producer Shobeni Khuzwayo said on Monday.
"They find themselves being oppressed as women and not being able to express themselves freely in a democratic country."
Izingane Zoma reportedly wrote a song accusing Malema of being uncontrollable, and of criticising the ANC leadership.
The single, called uMalema, had been sent to radio stations and was expected to be aired on Thursday.
Fight release
African National Congress Youth League general secretary Sindiso Magaqa said the league would fight the release of the song in court and sue the group for defamation.
"If they release that stupid song, we will hit them hard."
Khuzwayo said on Monday: "Blocking the song would be an infringement on the group's rights to express themselves freely about events and people that dominate talks socially."
No contact
The ANCYL had not contacted the group to discuss the song, Khuzwayo said.
"We haven't had any communication with the ANCYL regarding the song. We only learned of their dissatisfaction in the media. However we are willing to engage with them and address their concerns," he said.
The same group released a song about President Jacob Zuma before he was elected ANC president in 2007. Called Msholozi, after Zuma's clan name, the song called for him to be president and for corruption charges against him to be dropped.
