New York Press editor Jerry Portwood is leaving to become managing editor of Out magazine, according to the New York Observer, which also reports that arts & entertainment editor Adam Rathe has recently departed:

Once a conservative rival to the Village Voice, New York Press was acquired by Manhattan Media in 2007, as part of a growing stable of community publications like Avenue, The West Side Spirit, City Hall and, most recently, Dan’s Papers.

Yesterday Crain’s reported that Manhattan Media executive Tom Allon would run for citywide office. Mr. Allon told employees his mayoral campaign would not detract from his commitment to Manhattan Media.

Updated 4:45 PM: In an email, Portwood says that his last day is July 22 and that theater critic Mark Peikert will take over as managing editor at all of Manhattan Media’s publications. He writes:

When I started at New York Press in February 2006, the place was in a shambles. After years of editors and writers doing everything they could to create tension and cultivate disdain for the publication, I wanted to revive it as a lively and viable voice for New York City. It took a lot of work, lots of long hours and many personal sacrifices, but I’m proud of the stories and coverage we managed to eek out. If anyone knows how to do the MOST with the LEAST—it’s me and my team of amazing editors and talented, dedicated writers. I couldn’t have accomplished most of what we did without Adam Rathe, who was my righthand and handled more than most people will know. Not only did he handle many of the writers, interns and day-to-day drudgery, he helped me launch CityArts and increased his workload yet always kept us chugging along. Adam also recently departed for a new gig at the Daily News and I know he’s going to pull off great things.