Looks like the problem still persists (others have reported the problem here on earlier versions of the Apple TV).
I have the Apple TV connected via WI-FI, latest software update (6.0.2(6646.81.1)) and a N bandwidth router.
During the hangs my Iphone network test shows around 17 mbps on Wi-FI (I have a 20 mbps connection).
Seems to have happened since the last Apple TV software update.
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