The Apple TV update can be applied on the latest-generation set top box, which retails for $99. New features of the update, as highlighted by Apple, include:
MLB.TV: Watch live and on-demand Major League Baseball games, access stats, scores and standings.
NBA: See scores and more, plus League Pass Broadband subscribers get live and archived games.
AirPlay for apps: Use AirPlay to wirelessly stream video from apps and Safari on your iPhone, iPad and iPod touch.
Netflix Dolby Digital 5.1: Enjoy Dolby Digital 5.1 surround sound when watching Netflix movies and TV shows
New slideshow themes: View photos with the new Scrapbook, Photo Mobile, and Holiday Mobile slideshow themes.
Improved on-screen keyboard: Search and enter names and passwords more easily with the redesigned on-screen keyboard.
Once the Apple TV is updated, MLB.TV and NBA content can be accessed through the "Internet" section of the device's main menu. From there, basic information like scores and standings can be accessed, while subscribers can enter their account information to stream live games that are available.
The update also addresses a number of security issues on the Apple TV related to vulnerabilities in FreeType, exploits that can run when viewing a malicious TIFF file, and the ability for an attacker to reset an Apple TV when connected to the same Wi-Fi network.
The update arrived on Wednesday alongside the release of iOS 4.3 for the iPhone, iPod touch and iPad. That update allows Apple's mobile devices to wirelessly stream content from third-party applications to the set top box.