Twitter will join Facebook as a social media “partner” for NBC Universal’s Olympics extravaganza. No money is changing hands in either arrangement. NBC will be promoting and making use of Twitter and Facebook content on-air and incorporating the social “conversations” into its coverage. All of this makes tremendous sense, but doesn’t feel particularly innovative on either the traditional or new media side. There’s no NBC video for the social networks, and no one is doing joint sponsorships or ad sales, according to any of the reports I’ve seen. Facebook thinks it will help viewers navigate NBC coverage (thousands of hours across multiple networks) and perhaps discover hot events they wouldn’t have otherwise. NBC will help sync up Twitter by name-dropping hashtags. As Mathew Ingram writes, Twitter’s media company ambitions grow every day (maybe that’s why it wants to sell its own ads). But if you strip out the word “social,” this sounds an awful lot like something NBC would have done with Yahoo or AOL in 2004.