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The Cavaliers will acquire Channing Frye from the Magic, reports Frank Isola of the New York Daily News (Twitter link). Anderson Varejao is headed to the Trail Blazers, according to Sam Amick of USA Today (Twitter link), though the Blazers will likely waive him, reports Adrian Wojnarowski of The Vertical on Yahoo Sports (on Twitter). TNT’s David Aldridge confirms it is a three-team arrangement (via Twitter). Orlando is getting Jared Cunningham in the deal, USA Today’s Jeff Zillgitt hears, but the Magic are expected to waive him, reports Marc J. Spears of The Vertical on Yahoo Sports (Twitter links). The Magic will receive a second-round pick, too, Spears reports (Twitter link). That second-rounder will come from Portland, which will receive a conditional first-round from the Cavs, reports Dave McMenamin of ESPN.com (on Twitter).
