UPDATE:  I’m told that there’s less than meets the eye to the ballyhooed “access” Yahoo says it will offer to “all of NBCOlympics.com’s exclusive digital video rights.” That simply means Yahoo will have links to the NBC site — not streams of the programming itself.

PREVIOUS: This is an extension of a previous deal between the companies according to a Tumblr post from Yahoo VP Ken Fuchs. NBC Yahoo SportsThe agreement includes access to “all of NBCOlympics.com’s exclusive digital video rights, including live competition streams and highlights, the creation of a digital Olympics daily show, and the showcase of Yahoo products through NBC’s digital and broadcast coverage of the Games.” Sportscasters from Yahoo Sports and NBC Sports will team for news and analysis on the digital platforms. In addition, the TV broadcasts will integrate material from Yahoo Search, Flickr and Tumblr “to tap into the pulse of the American Olympic fan during the Sochi Games.” Today’s announcement comes a little more than a year after Yahoo and NBC Sports unveiled their partnership for event coverage. The digital company and NBC also have a content sharing deal for CNBC, and this year Yahoo became the online home for the Saturday Night Live archives