White told MMAFighting.com that Coker would remain in charge of Strikeforce and retain his staff of around 10 employees. The company would run separately from UFC and exhaust its contracts with Showtime television. The network has a deal with Strikeforce that runs through early 2012, sources said.
I've read that any fighter who signs now with either UFC or StrikeForce can fight for either promotion, and any current fighter will be able to switch promotions after their current contract ends and they resign a new deal.