I would conclude that a hyperlink, by itself, should never be seen as “publication†of the content to which it refers.
This is an enormous win for the Internet since it rightly recognizes that links are just digital references that should not be viewed as republication of the underlying content. As Abella states:
Hyperlinks are, in essence, references. By clicking on the link, readers are directed to other sources. Hyperlinks may be inserted with or without the knowledge of the operator of the site containing the secondary article. Because the content of the secondary article is often produced by someone other than the person who inserted the hyperlink in the primary article, the content on the other end of the link can be changed at any time by whoever controls the secondary page. Although the primary author controls whether there is a hyperlink and what article that word or phrase is linked to, inserting a hyperlink gives the primary author no control over the content in the secondary article to which he or she has linked.