There's a solid chance that if they could have afforded the appeal that the settlement would have been at least likely greatly reduced.
Let's not forget that Hogan got to have the court proceedings payout basically in his backyard.
Look they did wrong, and Hogan should get money, the question is should it have been literally so much that the company goes under.
Also I think what's interesting is that it wasn't the sex tape that ruined Hogan it was the racism on it that leaked years later. Also interesting that the tape published had 9 seconds of sex. I'm not defending Gawker, it shouldn't have been published, but again an entire company is going under for this.
Also distorted in all this btw is the argument that after the court ordered them to take the video down that they didn't. They did, they took down the video (didn't want to but did). Where they ignored the court was not in not taking down the video but in not taking down the article that talked about the video.
That's completely different, that's arguably murkier waters in terms of 1rst amendment rights. So they did in fact take down the video but still talked about it and what they saw.
The truth is if they were in a situation to be able to actually appeal, they likely would win on some levels and see at least a reduction in the verdict, but they can't even appeal because the court settlement was so large, frankly that's chilling.
Interesting New York Article on it:
http://www.newyorker.com/culture/cultural-comment/the-stakes-in-hulk-hogans-gawker-lawsuit
This probably sounds like I think what Gawker did was cool, I don't , Gawker itself is crap, they just own a lot of subsidiaries that do a lot of good work, and even though Gawker is crap I'm unconvinced that Hogan getting enough to bankrupt them was a fair verdict.