I want to post this article because I had a big problem with a long text added to a dynamic text field.  I tested many options in many blogs and noticed that working with Fonts in Flash has been an issue always. After spending more than a day trying to figure it out. This might not be the most “developer” solution but I swear this works. But first let me explain the problem: I was pulling some long text from an XML file the text was using 11pts size so I needed to make it very sharp(easy to read). Thus I applied antiAliasType.ADVANCED but some of the text wasnt showing completely, like there was no wordWrap.

Basically the solution is to set  this:

var captionFont:Font = new ITCFranklin(); // ITCFranklin is the class font that is located in my library
var captionFormat:TextFormat = new TextFormat();
captionFormat.font = captionFont.fontName;
captionFormat.size = 11;
captionFormat.leading =1;
captionFormat.color = 0xFFFFFF;
caption.embedFonts = true;
caption.width = 170;
caption.wordWrap = true;
caption.multiline = true;
caption.defaultTextFormat = captionFormat;
caption.gridFitType = GridFitType.SUBPIXEL;
caption.sharpness = 400;
caption.antiAliasType = AntiAliasType.ADVANCED;

Before only worked with the antiAliasType disabled but now works perfect

hope this is useful for someone; as it was for me after struggling a lot.