The Cavaliers are sending four future second-round picks and $5 million to the Pistons for the rights to Porter, sources told ESPN's Tim Bontemps.
The Pistons had acquired the pick and guard Tony Snell from the Milwaukee Bucks for Jon Leuer in a trade that was agreed upon a day earlier, deputy commissioner Mark Tatum announced at the draft. The Bucks made the pick for the Cavaliers on Thursday night in New York.
Porter, a 6-foot-6 shooting guard, averaged 9.5 points and 4.0 rebounds in 22.1 minutes in his lone college season for the Trojans.
He was the third player added for new Cavaliers coach John Beilein in the first round, after the team also selected Vanderbilt's Darius Garland with the No. 5 pick and Belmont's Dylan Windler at No. 26.