What was found
AIRCRAFT WAS GROUNDED: AN EMERGENCY WAS DECLARED DUE TO: WHILE IN CRUISE AT FL 370 AT MACH .79 WE GOT AN OIL FILTER BYPASS ON ENGINE 2 WITH NO OTHER ASSOCIATED ABNORMALITIES. OIL PRESSURE, OIL TEMP, AND QUANTITY WERE ALL WITHIN NORMAL RANGE. WHILE RUNNING QRH WE REDUCED POWER TO APPROX 65% N1 AND MESSAGE EXTINGUISHED MOMENTARILY THEN REAPPEARED EVEN WITH POWER AT IDLE. THIS THEN LED TO AN ENGINE SHUTDOWN; AFTER LANDING A VISIBLE OIL STREAK WAS FOUND ON THE COWLING. AIRCRAFT DIVERTED TO AND LANDED SAFELY AT CVG. (OPEN).