It does not look like this one will end well. Kevin Iole of Yahoo! Sports has a long article with lots of comments from Dana White and Jon Fitch. White does not pull any punches. Apparently this has been brewing for a long time between the UFC and the AKA fighters (Fitch, Koscheck, Cain Velasquez plus assorted others who are represented by DeWayne Zinkin and Bob Cook). White did not get into specifics. All he said was he is tired of dealing with fighters who do not want to partner with the UFC. Fitch's comments are much more reserved. He seems a little shocked to me and may not have thought the UFC would really release him.
The fact White is willing to release Fitch, Koscheck, and Velasquez is unreal. As a fan I hate to see stuff like this happen. From a business perspective, I also see the UFC's side to it. Being affiliated with the UFC instantly raises a fighter's stock. It opens doors to opportunities they would never have received fighting for other promotions. In exchange for these opportunities, the UFC expects fighters to sign away certain rights. Fitch claims to have no problem doing that, as long as it is not a lifetime agreement. He wants to be able to make money after his fighting days are over off of his image. White would probably tell him he has ample opportunity to do so through other business ventures thanks in large part to his affiliation with the UFC (opening gyms is the venture I hear most often from him).
This is going to get very ugly. Expect to hear lots of choice words from White in the coming days.