A press regulator funded by Max Mosley has made its first damages award, demanding that £2,500 be paid by a media company in which the former Formula One boss is a shareholder.

Impress is a press regulator whose £3.8 million in funding comes largely from Mr Mosley’s family charity and operates as a rival to the Independent Press Standards Organisation.

Newspapers including The Times, the Daily Mail, the Daily Mirrorthe Sun and The Daily Telegraph have signed up to be regulated by Ipso. No national papers have signed up to Impress, which counts a number of local papers and media websites among its members.

Mr Mosley has campaigned for press reform since he was awarded £60,000 in damages after suing the…