There are two new formats - one is a new format called WebOTF, which is a new binary format consisting of a raw font plus compressed XML metadata. The other is EOT Lite (which is likely to be renamed to something without "EOT" in the name), which is a subset of the old EOT functionality that IE has offered for several years, dropping the more controversial aspects such as rootstring (essentially browser copy protection) and font compression (which is patented).
Both parties are happy with both formats, and I believe Mozilla are planning to support both in the next version of Firefox, so the end result is likely that both become part of any standard.
There are two new formats - one is a new format called WebOTF, which is a new binary format consisting of a raw font plus compressed XML metadata. The other is EOT Lite (which is likely to be renamed to something without "EOT" in the name), which is a subset of the old EOT functionality that IE has offered for several years, dropping the more controversial aspects such as rootstring (essentially browser copy protection) and font compression (which is patented).
Both parties are happy with both formats, and I believe Mozilla are planning to support both in the next version of Firefox, so the end result is likely that both become part of any standard.