In this paper, we consider a network communications problem in which multiple correlated sources must be delivered to a single data collector node, over a network of noisy independent point-to-point channels. We prove that perfect reconstruction of all the sources at the sink is possible if and only if, for all partitions of the network nodes into two subsets S and S^c such that the sink is always in S^c, we have that H(U_S|U_{S^c}) < \sum_{i\in S,j\in S^c} C_{ij}. Our main finding is that in this setup a general source/channel separation theorem holds, and that Shannon information behaves as a classical network flow, identical in nature to the flow of water in pipes. At first glance, it might seem surprising that separation holds in a fairly general network situation like the one we study. A closer look, however, reveals that the reason for this is that our model allows only for independent point-to-point channels between pairs of nodes, and not multiple-access and/or broadcast channels, for which separation is well known not to hold. This ``information as flow'' view provides an algorithmic interpretation for our results, among which perhaps the most important one is the optimality of implementing codes using a layered protocol stack.

Final version, to appear in the IEEE Transactions on Information Theory -- contains (very) minor changes based on the last round of reviews