Found September 28, 2012 on Ring Side News:
PLAYERS: Kelly Kelly
As noted earlier, Kelly Kelly was released today by WWE. The release was said to be mutual but she had told friends that is was unlikely she would be returning at any time soon when she first asked for a leave of absence.

Kelly Kelly has been working on several non-wrestling projects as of late, including an Energy Drink ad campaign with several UFC fighters that was shot earlier this week. Kelly returned to WWE in August for a few weeks, and appeared to be back for good. Those close to the situation said it was only for a few weeks and she was still looking at doing her own thing.

Source: F4WOnline.com
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