According to Marc:

The Reds and Felipe Lopez have agreed to terms on a $2.7 million contract for this season, avoiding an arbitration hearing that was scheduled for next Wednesday. Lopez had asked for $3 million in his arbitration filing and the Reds had offered $2.15 million.

I was starting to wonder whether the Reds' fabled ability to avoid arbitration was a casualty of the ownership change. Now there's just one left: Mr. Dunn. What I wouldn't give to be a fly on the wall at that arbitration case.