From Yahoo! Sports:
Not much to say here. It could mean the Cavs are looking to get rid of Varejao, or are just looking for insurance. Also, the Hornets had kind of a backlog of big men last year (even with their mass injuries) so moving their worst one seems like the right move. It's clear that Hilton Armstrong was a lot better. They laso are looking to fill the hole left by Devin Brown (who, ironically, was signed by the Cavaliers).