While I respect that conclusion in general, I think that Gawker in particular has done a lot of sadistic and mean "reporting" which serves no public good. Them being sunk seems almost a public good in my opinion.
http://www.usatoday.com/story/money/2015/07/17/gawkers-appar...
I think $115 million is OK.
Let me put it this way: I don't care for Gawker and wouldn't mind personally if it sank (though there are good journalists there doing good work); I do care for the potential chilling effect this could have on other media.
(And let me make clear that I do think Bollea should have been compensated and Gawker punished, just not with $115 million.)