Going into the appeal, Wilson stood firm in her fight against Bauer Media.
Speaking on behalf of Bauer Media, General Counsel, Adrian Goss, said in a statement: "It was important for us to revisit the award of damages".
The judgment means the Australian actress will receive about $3.9 million less than she had been originally awarded by the Supreme Court in September.
'The trial judge erred in finding the plaintiff had established, on the balance of probabilities, the loss of an opportunity to earn US$15 million from being cast in lead or co-lead roles in three feature films, ' the judgement said.
Darrian Traynor Rebel Wilson speaks to the media
In court past year, she successfully argued that eight articles published by Bauer magazines in 2015 had portrayed her as a serial liar, and that this resulted in her being sacked from two feature films.
Rebel Wilson pictured outside the court of appeal in April.
Wilson was not present for the judgment but she took to Twitter the night before, saying she had already won the case.
However the Court of Appeal found "there was no basis in the evidence for making any award of damages for economic loss".
Now, nearly two months later, it sounds like the actress is ready to put it all behind her.
Prior to today's ruling, Wilson pre-emptively got ahead of things by tweeting victoriously from the set of Jojo Rabbit in Europe, asserting that the ruling in favour of her remains "unchallenged" and that she was never concerned about the monetary payout. She'll next be seen in Isn't It Romantic opposite Adam DeVine and Liam Hemsworth, followed by The Hustle, a Dirty Rotten Scoundrels remake also starring Anne Hathaway.