A jury in 2008 awarded the money to Davis, who created the show and appeared on its first season. The Trademark Properties Inc. real estate investor sued after he said the cable network broke an oral agreement to split the show's profits.
Attorneys for A&E have said the network had no such agreement. A spokesman on Tuesday would not talk about the appellate decision.
Davis said Tuesday that he wants to return to television with a series about restaurant renovations.