FireCore has announced an update to Seas0nPass to jailbreak the new iOS 5.0.2 firmware for the Apple TV 2.
Seas0nPass updated for Apple TV 5.0.2. Still untethered. http://seas0npass.com
You can find step-by-step instructions on how to jailbreak Apple TV 2G with Seas0nPass here (Windows, Mac OS).
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