User interaction is required to exploit this vulnerability in that the target must visit a malicious page or open a malicious file.
The specific flaw exists within the primary QuickTime.qts library when parsing the BkPixPat opcode (0x12) within a PICT file. The application will use 2 fields within the file in a multiply which is then passed as an argument to an allocation. As both operands in the multiply are user-controllable, specific values can cause an under allocation which will later result in a heap overflow. Successful exploitation can lead to code execution under the context of the current user.
Patch Availability:
Apple has issued an update to correct this vulnerability. More details can be found at:
http://support.apple.com/kb/HT4104