Rupert Murdoch declares he’s going to shun Google.

Google says, We don’t care.

The world cries out that Rupert is misguided.

An enterprising blogger goes onto Compete.com’s site and tries to sort out just how dependent Murdoch’s web properties are on Google’s traffic. His answer? Not as dependent as it might seem:

Screen shot 2009-11-10 at 9.27.30 AM.jpgThe screenshot to the right shows the News Corp. assets for which Google is the top referrer, and News Corp. assets for which other sites are the top referrer.

The conclusion is that News Corp. is as reliant on Google traffic one might assume, and, as blogger Vedrashko observes, is less reliant than other news sites on Google.

A look at ComScore’s source/loss analysis for the Wall Street Journal support Vedrashko’s observations. Of WSJ.com’s 6.7 million unique visitors in September, 30% came from Yahoo, with 70% of the Yahoo traffic being driven from Yahoo’s home page. 13% of WSJ.com traffic was driven by Google search.

One other interesting note from the Compete figures: the biggest referrer of traffic to MySpace is Facebook.

Also, don’t miss Mark Cuban weighing in on the issue.