COMPANY TOWN ANNEX

National Geographic to Shed TV Unit: The nonprofit scientific and educational institution will spin off its television production unit into a separate, taxable subsidiary, a move designed to protect its tax-exempt status. Because the TV unit has increasingly come to rely on commercial broadcast and cable television to distribute its programs, National Geographic Society officials decided on the spinoff to avoid any possible tax conflict. Among other things, the TV unit produces five specials a year for NBC, a documentary series, “National Geographic Explorer” for TBS, and home videos. The new unit, to be called NGT Inc., will have more flexibility to pursue commercial ventures, officials said.