From Globesports.com/CP:

The Ottawa Senators have traded defenceman Andrej Meszaros to the Tampa Bay Lightning for defencemen Filip Kuba and Alexandre Picard and a first-round pick in 2009.
Senators general manager Bryan Murray announced the trade Friday night.

Meszaros registered nine goals, 27 assists and 50 penalty minutes in 82 regular-season games for the Senators last year. The six-foot-two, 220-pound blue-liner has 26 goals, 84 assists and 213 penalty minutes in three NHL seasons, all with the Senators.

The 22-year-old from Povazska Bystrica, Slovakia, was Ottawa’s first-round pick (23rd overall) in the 2004 NHL draft.

Kuba, a native of Ostrava, Czech Republic, has been with the Lightning for the past two seasons signing as a free agent in July 2006. He had six goals, 25 assists and 40 penalty minutes in 75 games last season. The six-foot-five, 225-pound defenceman has 207 points and 239 penalty minutes over 531 career games.

Picard, 22, a native of nearby Gatineau, Que., had three goals, three assists and 10 penalty minutes over 24 games with the Philadelphia Flyers and the Lightning last season. In his three-year NHL career, the six-foot-two, 225-pound Picard has six goals, 22 assists and 31 penalty minutes over 92 regular-season games.

Habster:

Andrej Meszaros is a very good, young defenseman but I think the Tampa Bay Lightning overpaid a tad bit in this deal.

Filip Kuba is a solid veteran defenseman who can add more size and provide offense from the backend while Alexandre Picard is a former 1st round pick (8th overall 2004) of the Columbus Blue Jackets who has only played 43 NHL games but still has a lot of potential.

The first round pick could be huge for the Senators organization if the Lightning stumble out of the gates and finish in the bottom half of the NHL standings which is a distinct possibility.