Is Linking Considered Copyright Infringement?

Is linking considered a copyright infringement?  Some news organizations want you to think so.  Now, to be clear, I am not talking about plagiarism or using copyrighted photos as your own.  I'm actually talking about simply linking to an outside source, whether on your site, in a blog post or even through an email.  News Corp, one of the largest media corporations in the world, is considering blocking search engines and feeds from utilizing its content.  It considers all of its content copyrighted intellectual property, including links.  While the content itself is, indeed, the property of the person who originally wrote it (and rightfully so), why would they consider a simple link to the article an infringement on their copyright?  And why would they want to block their content from being linked?

As you know, SEO is partly dependent on good links.  Linking to a good site, article, etc. that carries weight in the search engine algorithms can help increase the weight of your site, bringing your site up in the rankings.  If search engines don't have access to these reputable sites, will that have an affect on your site?  It might.

Some people who are against News Corp's stance (primarily journalists) say that this is a way to control what people read instead of allowing freedom to see differing viewpoints.  They believe that this opens the door for online news media to negotiate with corporate search engines, giving them "exclusive" access to only their online media that includes only their opinions and blocking out others that don't agree.  Since journalists are relying more and more on digital media for source material, limiting access to information hurts them.  Other opponents believe that, if the information in question is freely available to some members of the public, it should be available to all.

Not all news organizations agree with News Corp's argument, however.  Many media companies understand that links drive traffic to their sites, increasing their audience and adding value to their contributors and content.  And, the whole point of creating online content is to drive traffic to your business, isn't it?  So, do you consider linking to be a copyright infringement?  Please let me know.  I'm very curious to see what you think.