Not everyone shares the view. In an essay to promote his recent book, The Shallows, Nicholas Carr suggests we do away with hyperlinks and instead append links to a story so they do not interfere with the writer's narrative. Not surprisingly, many disagreed, saying the links are the narrative.
Now Jonathan Stray has interviewed several major news organizations for a Nieman Journalism Lab story to determine how they use --- and don't --- the link in their pieces. Most make clear their policy is encouragement of links out. Stray believes that isn't enough and that a crackdown of sorts is necessary to compel linking as an essential element of storytelling.
Linking out is the wisest course and has been for some time. While some worry that linking out takes a reader off-site and delivers traffic elsewhere, the bigger picture involves cultivating loyalty through effective curation and authority. If users believe your site will create stories that offer detours to more dedicated sites of interest, then you are more likely to earn a regular following.
What Stray is observing, though, has more to do with the challenges of cultural change and less to do with any institutional barrier.