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From the Tampa Bay Times:
#Rays' Fuld to have wrist surgery on Tuesday, expected to be out 4-5 months
— Joe Smith (@TBTimesRays2) April 2, 2012
This is disappointing news for the Rays, although not terribly unexpected. Once news broke that Fuld was getting a second opinion on his wrist injury, it seemed likely that he would need to miss a substantial amount of time. Losing Fuld will give the Rays a weaker bench -- especially defensively, as Fuld is one of the best defensive replacements in the game -- but the good news is that he's just a bench player.
It's unclear exactly how the Rays will replace Fuld, as their bench hasn't been finalized yet. With Fuld expected to miss a substantial amount of time, I wouldn't be surprised if Brandon Guyer makes the Rays to start the season. He's a step up from Jeff Salazar, and he could still be demoted when B.J. Upton comes back from his injury.
If the Rays don't want to use Guyer as a bench outfielder this season, though, they may need to look elsewhere for some extra depth. Their in-house options aren't exactly great, and their bench is thin enough as it is.