The damages had been ordered in compensation for Fininvest having wrested control of the leading Mondadori publishing house from Compagnie Industriali Riunite (CIR) in 1990 after it bribed a judge to approve a company takeover.
A judge in the original case had ruled that billionaire politician Berlusconi was "co-responsible" for the bribery of the judge who had ruled in favour of Fininvest in the takeover battle.
CIR's honorary president is Berlusconi rival Carlo de Benedetti, and the group runs the weekly news magazine L'Espresso and the left-leaning daily La Repubblica -- avid chroniclers of the ex-prime minister's legal woes and sex scandals.
The 76-year-old Berlusconi's legal battles have continued with a definitive criminal conviction for tax fraud in August. He could also possibly be expelled from parliament.
Despite losing his appeal on the Mondadori fine, Berlusconi cannot be prosecuted in the case as the facts were legally prescribed in 2001 -- meaning the period for legal action had expired.