As reported by MacRumors, a few minutes ago Apple released a software update for the Apple TV. The build is 8C154 and it’s labelled as iOS 4.2.1 for Apple TV second generation. This is a direct link to the update, courtesy of iOS E Lite. As you can see, it’s a 267MB download.
The update is also available through the Apple TV’s built-in software update checker. A changelog for the new OS hasn’t been provided yet, nor is the update online on Apple’s download website.
In spite of the update file being registered as “iOS 4.2.1” on Apple’s servers, the Apple TV reports “4.1.1” as the new installed OS. The same happened on November 22 when Apple released iOS 4.2.1 for iPhone and iPad and announced the availability of iOS 4.2 for the new Apple TV, although the built-in updater tool reported 4.1 as being installed.
According to early reports on Apple’s discussion boards, the update hasn’t fixed the color issues reported by several Philips and Sony TV owners.
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