Apple has pushed out its latest updates for both 2nd-gen 720p and 3rd-gen 1080p Apple TVs, reports Macrumors. It seems that this update was released to address “an issue which caused content restrictions to be incorrectly applied for the iTunes Store in Australia.”
To update your Apple TV to 5.0.2 (9b830), just turn your device on and initiate the software update in the Settings>Software Update menu on your Apple TV. Details about the update should appear on Apple’s support page when available.
Update 5.0.1, which was a bug-fix release, was dropped just a month ago.