The prevailing theory appears to be that Bishop is now going to get flipped somewhere else, possibly to another team in the East. That's really the only way this makes sense, but then why wouldn't Tampa Bay make that trade to that eastern team? Maybe they didn't want to eat even more of Bishop's salary. I guess LA will eat the rest of whatever else they need to in order to move him.
The other pick going to Tampa is a conditional one based on how well the Kings do in the playoffs. Miss the playoffs = no pick, and could become as high as a 2nd. Could turn into..
Bishop, 5th for Cernak, 2nd, 7th.
I dunno, but I think Yzerman did a great job turning an asset that was probably going to be lost to the expansion draft anyways into something decent.