Jailbreak Apple TV 2G on iOS 4.2.1 with PwnageTool[How To]
Apple has already released iOS 4.2.1 (8C154) for Apple TV 2G.On the other hand The developer behind NitoTV app for jailbroken 2nd-gen Apple TV has released an unofficial PwnageTool bundle which can jailbreak Apple TV 2G on the latest iOS 4.2.1 firmware with the existing version of PwnageTool.