"Apple and Microsoft are extending the seamless Web and software experience Apple users have enjoyed for years when using and viewing popular Microsoft fonts," Microsoft said in a statement.
Back in 1996 Microsoft started the “Core fonts for the Web” initiative to create a standard pack of fonts that would allow web pages to be displayed consistently on different computers. The project, which included twelve of Microsoft’s fonts as being “core” to the Internet, was terminated in August 2002 though, allegedly due to frequent EULA violations.
Under the agreement, Mac users will continue to be able to work with Microsoft “web safe fonts” such as Times New Roman, Arial, and Verdana, which are widely used by Internet developers. Specific terms of the licensing deal were not disclosed.