SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13D/A
(Rule 13d-10)
INFORMATION TO BE INCLUDED IN STATEMENTS
FILED PURSUANT TO RULE 13d-1(a) AND AMENDMENTS
THERETO FILED PURSUANT TO RULE 13d-2(a)
(Amendment No. 8)
Bally Total Fitness Holding Corporation
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(Name of Issuer)
Common Stock, no par value $.01 per share
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(Title of Class of Securities)
058 73K 10 8
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(CUSIP Number)
Mr. Emanuel R. Pearlman
Liberation Investment Group
11766 Wilshire Blvd.
Suite #870
Los Angeles, CA 90025-6538
(310) 479-3434
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(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)
July 18, 2005
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(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition that is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the
following box / /.
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-7(b) for other
parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).
SCHEDULE 13D
CUSIP No. 058 73K 10 8 Page 2 of 9
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NAME OF REPORTING PERSON
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Liberation Investments, L.P.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [ ]
(See Instructions) (b) [X]
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SEC USE ONLY
3
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SOURCE OF FUNDS (See Instructions)
4
WC
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CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
5 2(d) or 2(e)[ ]
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CITIZENSHIP OR PLACE OF ORGANIZATION
6 Delaware
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SOLE VOTING POWER
7 0
NUMBER OF
SHARES --------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8 2,662,963
OWNED BY
--------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9 0
REPORTING
PERSON --------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10 2,662,963
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
2,662,963
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CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12
(See Instructions)
[ ]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13 7.84%
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TYPE OF REPORTING PERSON
14 (See Instructions)
PN
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SCHEDULE 13D
CUSIP No. 058 73K 10 8 Page 3 of 9
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NAME OF REPORTING PERSON
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Liberation Investments, Ltd.
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [ ]
(See Instructions) (b) [X]
--------------------------------------------------------------------------------
SEC USE ONLY
3
--------------------------------------------------------------------------------
SOURCE OF FUNDS (See Instructions)
4
WC
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CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
5 2(d) or 2(e)[ ]
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CITIZENSHIP OR PLACE OF ORGANIZATION
6 Cayman Islands
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SOLE VOTING POWER
7 0
NUMBER OF
SHARES --------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8 1,436,487
OWNED BY
--------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9 0
REPORTING
PERSON --------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10 1,436,487
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
1,436,487
--------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12 (See Instructions)
[ ]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13 4.23%
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TYPE OF REPORTING PERSON
14 (See Instructions)
CO
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SCHEDULE 13D
CUSIP No. 058 73K 10 8 Page 4 of 9
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NAME OF REPORTING PERSON
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Liberation Investment Group LLC
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [ ]
(b) [X]
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SEC USE ONLY
3
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SOURCE OF FUNDS (See Instructions)
4
N/A
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CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
5 2(d) or 2(e)[ ]
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CITIZENSHIP OR PLACE OF ORGANIZATION
6 Delaware
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SOLE VOTING POWER
7 0
NUMBER OF
SHARES --------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8 4,099,450
OWNED BY
--------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9 0
REPORTING
PERSON --------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10 4,099,450
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
4,099,450
--------------------------------------------------------------------------------
CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12 (See Instructions)
[ ]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13 12.06%
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TYPE OF REPORTING PERSON
14 (See Instructions)
OO, IA
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SCHEDULE 13D
CUSIP No. 058 73K 10 8 Page 5 of 9
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NAME OF REPORTING PERSON
1 I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Emanuel R. Pearlman
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CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
2 (a) [ ]
(See Instructions) (b) [X]
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SEC USE ONLY
3
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SOURCE OF FUNDS (See Instructions)
4
N/A
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CHECK IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO ITEMS
5 2(d) or 2(e)[ ]
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CITIZENSHIP OR PLACE OF ORGANIZATION
6 United States
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SOLE VOTING POWER
7 35,000
NUMBER OF
SHARES --------------------------------------------------------
SHARED VOTING POWER
BENEFICIALLY 8 4,099,450
OWNED BY
--------------------------------------------------------
EACH SOLE DISPOSITIVE POWER
9 35,000
REPORTING
PERSON --------------------------------------------------------
SHARED DISPOSITIVE POWER
WITH 10 4,099,450
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AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
11
4,134,450
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CHECK IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
12 (See Instructions)
[ ]
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PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
13 12.16%
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TYPE OF REPORTING PERSON
14 (See Instructions)
IN, HC
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INTRODUCTION
This Amendment No. 8 (this "Amendment") relates to the Schedule 13D
filed on behalf of (i) Liberation Investments, L.P., a Delaware limited
partnership ("LILP"); (ii) Liberation Investments Ltd. ("LILtd"), a private
offshore investment corporation; (iii) Liberation Investment Group, LLC
("LIGLLC"), a Delaware limited liability company and general partner of LILP and
discretionary investment adviser to LILtd; and (iv) Emanuel R. Pearlman, as
General Manager, Chief Investment Officer and majority member of LIGLLC
(collectively, the "Reporting Persons"), with the Securities and Exchange
Commission on June 8, 2004, as amended by Amendment No. 1 filed on July 13,
2004, Amendment No. 2 filed on August 27, 2004, Amendment No. 3 filed on
September 1, 2004, Amendment No. 4 filed on September 10, 2004, Amendment No. 5
filed on December 13, 2004, Amendment No. 6 filed on April 26, 2005 and
Amendment No. 7 filed on May 6, 2005 (the "Schedule 13D"), relating to shares of
common stock, $.01 par value per share ("Common Stock"), of Bally Total Fitness
Holding Corporation (the "Company").
Items 4 and 7 of the Schedule 13D are amended and supplemented as
follows:
Item 4. Purpose of Transaction.
On July 18, 2005, LIGLLC, on behalf of the Reporting Persons,
delivered a letter to the Board of Directors of the Company (the "Board"). The
letter expressed the Reporting Person's disappointment with the Company's press
release, dated July 13, 2005, and management conference call held on the same
date, which, among other things, reported that the Company would fail to meet
its self-imposed deadline for completing audited financial statements. In
addition, the Reporting Persons called for a change in management, including a
new chief executive officer, in order to restore investor credibility and move
the Company forward. The letter also urged the Board to appoint Mr. Pearlman to
the Board to give credibility to the Board's commitments to effect change at the
Company and maximize shareholder value. Mr. Pearlman is the General Manager,
Chief Investment Officer and majority member of the Reporting Persons, which
together are the Company's largest individual shareholder. A copy of the letter
is attached hereto as Exhibit 11.
Item 7. Material to be Filed as Exhibits
The following exhibit is filed is filed with this Amendment:
EXHIBIT 11: Letter sent by Liberation Investment Group, LLC to the Board of
Directors of Bally Total Fitness Holding Corporation on July 18,
2005.
SCHEDULE 13D
CUSIP No. 058 73K 10 8 Page 7 of 9
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SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief,
I certify that the information set forth in this statement is true, complete and
correct.
Dated: July 19, 2005
LIBERATION INVESTMENTS, L.P.
By: Liberation Investment Group, LLC, general partner
By: /s/ Emanuel R. Pearlman
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Emanuel R. Pearlman
General Manager
LIBERATION INVESTMENTS LTD.
By: /s/ Emanuel R. Pearlman
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Emanuel R. Pearlman
Director
LIBERATION INVESTMENT GROUP, LLC
By: /s/ Emanuel R. Pearlman
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Emanuel R. Pearlman
General Manager
Emanuel R. Pearlman
/s/ Emanuel R. Pearlman
------------------------------