How to Control HDSP-H101 Common Cathode 7-Segment Display with Arduino Micro?

I have recently purchased an Arduino micro and am using it to learn more about electronics and embedded systems. I have a numeric LED displayHDSP-H101with the following circuit diagram, and I am trying to figure out how I can use the digital I/O pins on the Arduino to activate different segments of the display.

If the diodes were oriented the opposite way, it would be a simple matter of connecting the output pins (and a resistive load) to each of the pins and the cathode to ground and then when the pin was set to HIGH a forward-bias voltage would be applied across the LED and it would light up. However, in this case a reverse-bias voltage would be applied and therefore I am unsure of the best way to selectively light each segment?

Tie the common pin high(+5V), and pull the current limited segment pins low, the logic will be inverted of course. You take care of the inversion in the code, to make sure that the driven pins create your digits.
There are other issues that you need to take into account, the AVR pins have limited sink and source current capability, and you use an awful lot of pins if you have a large display (more than a few digits)
See this article which covers some of the issues.
http://arduino.stackexchange.com/questions/9976/7-segment-common-anode
Try this link, don't know how good the code is, but should be a useful article on some of your options.
http://www.instructables.com/id/Arduino-common-anode-7-segment-display/
Library here that supports both common anode and cathode, but note that it includes switching transistors.
http://playground.arduino.cc/Main/SevenSegmentLibrary
With a large display, you need to consider using shift registers, or dedicated seven segment controllers with serial input/output.
Cheers,
Richard