When asked about the New York Giants acquiring outside linebacker Keith Rivers, Mike Garafolo with the Star-Ledger and NJ.com doesn't dispute the chatter; though it appears he's not confirming nor denying a rumor, in case it turns out true or untrue. Regardless Garafolo writes, "If this one is out of left field and completely bogus, no one has told me that yet."
This isn't necessarily surprising. There's plenty of evidence that the Bengals may simply not have room for the weak-side linebacker, with Thomas Howard returning and the team sporting nine linebackers signed on the 2012 roster.
Additionally there's been no clarification on his not-regenerative wrist condition, only that it's not degenerative. So if we had to make a prediction, we're likely to side with the team releasing Rivers with an injury settlement than his return next season.
As for the Giants, Garafolo writes that "a trade for Rivers would make sense for the Giants. They’d get a guy who has a lot of talent at a position of need and would be buying low because he missed all of last season with a wrist issue that required surgery."
Keep in mind this is just a rumor that's not being disputed one way or the other. It could be smoke, leading to fire. Or it could be another unsubstantiated rumor that goes back two years when the Bengals were reportedly looking to trade Rivers in exchange for wide receiver Mario Manningham.