Its my understanding the corporations are banned from donating directly to political parties. And SCOTUS didn't really touch that issue.
Correct. Even after this ruling corporations can't directly donate to candidates elections coffers. I don't really have a problem with that restriction.
The issue at hand was a private company producing a video that promoted a candidate during the "blackout" period of McCain-Feingold. The SCOTUS overturned some older rulings, I think the most obvious came from the 1980's, which was local to me. The Michigan Chamber of Commerce took out an ad against a candidate that they deemed harmful to member's interest. That was later challenged in court and the ruling was in favor of restricting their speech rights.
It's amazing watching the "liberal" outrage over this ruling. If you believe their line of thinking we no longer have a voice in elections because ads can be taken out by corporations. Nevermind that we're the ones actually voting in them. Took a while for it to set it but I finally realize that it's just another extension of them wanting to use our government to try and protect ourselves from our own actions.