8:25pm: The Browns have announced the exact terms of the trade: Cleveland will acquire a 2016 first-rounder (No. 15), a 2016 third-rounder (No. 76), and a 2017 third-rounder, while the Titans picked up the No. 8 pick, and a 2016 sixth-rounder (No. 176).
8:03pm: After trading down from No. 2 to No. 8 earlier this month, the Browns have once again moved down in the first round. According to Dave Birkett of the Detroit Free Press (via Twitter), the Browns and Titans have agreed to a trade, with Tennessee moving up to No. 8. Tennessee will select Michigan State offensive tackle Jack Conklin, reports Jeff Howe of the Boston Herald (Twitter link).
The Titans will send the No. 15 pick, a 2016 third-rounder, and a 2017 third-rounder to Cleveland in exchange for the eighth pick, tweets Field Yates of ESPN.com. The Browns, meanwhile, will also send a sixth-rounder to Tennessee, according to Jason La Canfora of CBSSports.com (Twitter link).
The deal makes sense on a number of levels, as the Titans had been rumored to be exploring a trade up to acquire an offensive tackle, while the Browns had reportedly been looking to move down an acquire more draft capital. The trade, interestingly, is comprised of the two clubs who originally owned the first and second overall selections.