To the best of my knowledge, the 1964 US Court of Appeals decision(upheld by the US Supreme Court Decision) still stands, at least in the US. Judge Irving Kaufman, in his decision in the case of a group of Music Publishers vs. Mad Magazine, commented "...While the social interest in encouraging the broad-gauged burlesques of Mad Magazine is not readily apparent, we believe that parody and satire are worthy of substantial freedom--both as entertainment and as a form of social and literary criticism..."