It began in 1971 with an idea from The Sun's US correspondent, now the Sun-Herald City2Surf has been sold to Chinese-owned Ironman Group as part of a $31 million deal.

Nine picked up the Sydney fun run - which attracts 80,000 runners - as part of the events and entertainment division of Fairfax, and has bundled the Sydney Morning Herald Half Marathon, Carman's Women's Fun Run, Melbourne Corporate Triathlon and Spring Cycle in the deal.

About half those working in the division will move with the sale, but an undisclosed number in smaller sporting events will lose their jobs. Nine has also announced that it is getting out of the parenting vertical.

The Nine-owned publications will continue as naming partners.

Some 'business and food' events - such as the Night Noodle Markets, Good Food Month, The Australian Financial Review Business Summit and Women of Influence Awards - are not being sold, and will become part of Nine's publishing division to "better align" with its editorial brands.