The report, which cites multiple sources, says the Lakers will receive Howard while shipping Andrew Bynum to the Philadelphia 76ers. Pau Gasol, who was rumored to be included in earlier deals, is not involved in the trade.
A source with direct knowledge of the talks told ESPN.com's Marc Stein the Lakers will receive Howard, the Denver Nuggets will acquire Andre Iguodala, the 76ers will receive Andrew Bynum and Jason Richardson, and the Magic will get Arron Afflalo, Al Harrington, Nikola Vucevic and one protected future first-round pick from each of the other three teams.
In addition, the Magic will be getting other pieces, including 76ers No. 1 draft pick Moe Harkless, a source told Stein.
The trade is not quite official as it still needs NBA approval. That could happen as early as Friday morning as a call with the league office has been scheduled.