I think you'll find the font 'owner' in Windows parlance is the 'TrustedInstaller'. To delete it you might need to change the owner to the current user. You may also need to run Windows in safe mode to do this. Do note that doing so will adversely impact Windows programs that employ that font (which is probably why it's protected)...
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Cheers,
Paul Edstein
[Fmr MS MVP - Word]
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