But FanHouse.com and the New Orleans Times-Picayune subsequently reported that Andersen had been removed from the discussions.
One source confirmed to ESPN.com that the updated structure of the deal, which is scheduled to be finalized Wednesday, features only Thornton and cash going to Sacramento, with the Hornets using a trade exception to absorb Landry's $3 million salary.
Sacramento did not want Andersen in the deal, a league source told ESPN The Magazine's Ric Bucher.
The Kings held Landry out of Tuesday's game in Miami in anticipation of the trade.
"We're involved in some fairly significant discussions," Kings coach Paul Westphal said after Sacramento's heavy loss to the Heat. "We thought it was prudent not to play him tonight."
"I've been there before; right now I'm happy to be a King," Landry said Tuesday night. "I'll give my agent a call. Right now it's all talk."
Landry is averaging 11.9 points and 4.8 rebounds but has not had the desired impact in Sacramento, with the Kings focused on the development of prized rookie DeMarcus Cousins. Tuesday was Landry's first missed game of the season.
Marc Stein covers the NBA for ESPN.com. Information from The Associated Press was used in this report.