From the Milwaukee Journal-Sentinal's Tom Haudricourt:
I just spoke with general manager Doug Melvin who told me he's waiting to see if the Cleveland Indians will accept his trade proposal for left-hander C.C. Sabathia.
"Mark said he'd be in touch with me," said Melvin, referring to Cleveland general manager Mark Shapiro. "I'm sure they've got to think through everything."
[snip]
Several names have been included in trade rumors involving the Brewers but their offer is thought to center on outfielder Matt LaPorta, their top minor-league prospect. LaPorta, currently playing at Class AA Huntsville, was the Brewers' first-round draft pick in 2007.
[UPDATE]: Buster Olney with more information on the talks:
The Brewers and Indians have had extensive talks about Sabathia, and if a deal is made, it is likely that Double-A outfielder Matt LaPorta, who has 20 homers for Huntsville, would be in the middle of the package sent to Cleveland. According to sources, the Brewers have been reluctant to part with two of their best prospects, preferring the Indians fill out the trade from a group of players not considered to be at LaPorta's level. The Brewers' Double-A team at Huntsville is loaded, from shortstop Alcides Escobar to third baseman Mat Gamel to catcher Angel Salome.
[UPDATE II]: More from Haudricourt (7-6-08):
FYI, nothing new on the C.C. Sabathia front but I get the impression the Brewers are expecting an answer today, one way or the other. If the deal isn’t done today, it would be almost impossible to get two starts out of Sabathia before the all-star break, which is what the Brewers have in mind.
(hat tip: APV)