UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1 )*
BALLY TOTAL FITNESS HOLDING CORPORATION
--------------------------------------------------------------------------------
(Name of Issuer)
Common Stock
--------------------------------------------------------------------------------
(Title of Class of Securities)
05873K108
---------
(CUSIP Number)
December 31, 2005
-----------------
(Date of Event which Requires Filing
of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:
[ ] Rule 13d-1(b)
[X] Rule 13d-1(c)
[ ] Rule 13d-1(d)
*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 the
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).
Page 1 of 10
-------------------------------- -----------------------------
CUSIP No. 05873K108 13G Page 2 of 10 Pages
-------------------------------- -----------------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
S.A.C. Capital Advisors, LLC
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------- ----- ----------------------------------------------------
5 SOLE VOTING POWER
0
----- ----------------------------------------------------
NUMBER OF 6 SHARED VOTING POWER
SHARES
BENEFICIALLY 2,439,200 (see Item 4)
OWNED ----- ----------------------------------------------------
BY 7 SOLE DISPOSITIVE POWER
EACH
REPORTING 0
PERSON ----- ----------------------------------------------------
WITH 8 SHARED DISPOSITIVE POWER
2,439,200 (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,439,200 (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.4% (see Item 4)
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 2 of 10
-------------------------------- -----------------------------
CUSIP No. 05873K108 13G Page 3 of 10 Pages
-------------------------------- -----------------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
S.A.C. Capital Management, LLC
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------- ----- ----------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 0
OWNED
BY
EACH
REPORTING
PERSON
WITH
----- ----------------------------------------------------
6 SHARED VOTING POWER
2,439,200 (see Item 4)
----- ----------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
----- ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,439,200 (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,439,200 (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.4% (see Item 4)
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 3 of 10
-------------------------------- -----------------------------
CUSIP No. 05873K108 13G Page 4 of 10 Pages
-------------------------------- -----------------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
S.A.C. Capital Associates, LLC
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
Anguilla, British West Indies
--------------------- ----- ----------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 0
OWNED
BY
EACH
REPORTING
PERSON
WITH
----- ----------------------------------------------------
6 SHARED VOTING POWER
2,413,800 (see Item 4)
----- ----------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
----- ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,413,800 (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,413,800 (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
[ ]
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.4% (see Item 4)
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
00
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 4 of 10
-------------------------------- -----------------------------
CUSIP No. 05873K108 13G Page 5 of 10 Pages
-------------------------------- -----------------------------
---------- ---------------------------------------------------------------------
1 NAME OF REPORTING PERSON
I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
Steven A. Cohen
---------- ---------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
(a) [ ]
(b) [X]
---------- ---------------------------------------------------------------------
3 SEC USE ONLY
---------- ---------------------------------------------------------------------
4 CITIZENSHIP OR PLACE OF ORGANIZATION
United States
--------------------- ----- ----------------------------------------------------
NUMBER OF 5 SOLE VOTING POWER
SHARES
BENEFICIALLY 0
OWNED
BY
EACH
REPORTING
PERSON
WITH
----- ----------------------------------------------------
6 SHARED VOTING POWER
2,439,200 (see Item 4)
----- ----------------------------------------------------
7 SOLE DISPOSITIVE POWER
0
----- ----------------------------------------------------
8 SHARED DISPOSITIVE POWER
2,439,200 (see Item 4)
---------- ---------------------------------------------------------------------
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
2,439,200 (see Item 4)
---------- ---------------------------------------------------------------------
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
---------- ---------------------------------------------------------------------
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
6.4% (see Item 4)
---------- ---------------------------------------------------------------------
12 TYPE OF REPORTING PERSON*
IN
---------- ---------------------------------------------------------------------
*SEE INSTRUCTION BEFORE FILLING OUT
Page 5 of 10
ITEM 1(A) NAME OF ISSUER:
--------------
Bally Total Fitness Holding Corporation
ITEM 1(B) ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES:
-----------------------------------------------
8700 West Bryn Mawr Avenue
Chicago, Illinios 60631
ITEMS 2(A) NAME OF PERSON FILING:
---------------------
This statement is filed by: (i) S.A.C. Capital Advisors,
LLC, ("SAC Capital Advisors") with respect to shares of
common stock ("Shares") of the Issuer beneficially owned
by S.A.C. Capital Associates, LLC ("SAC Capital
Associates"), S.A.C. Meridian Fund, LLC ("SAC Meridian")
and S.A.C. MultiQuant Fund, LLC ("SAC MultiQuant"); (ii)
S.A.C. Capital Management, LLC, ("SAC Capital Management")
with respect to Shares beneficially owned by SAC Capital
Associates, SAC Meridian and SAC MultiQuant; (iii) SAC
Capital Associates with respect to Shares beneficially
owned by it; and (iv) Steven A. Cohen with respect to
Shares beneficially owned by SAC Capital Advisors, SAC
Capital Management, SAC Capital Associates, SAC Meridian
and SAC MultiQuant.
ITEM 2(B) ADDRESS OF PRINCIPAL BUSINESS OFFICE:
------------------------------------
The address of the principal business office of (i) SAC
Capital Advisors and Mr. Cohen is 72 Cummings Point Road,
Stamford, Connecticut 06902, (ii) SAC Capital Management
is 540 Madison Avenue, New York, New York 10022, and (iii)
SAC Capital Associates is P.O. Box 58, Victoria House, The
Valley, Anguilla, British West Indies.
ITEM 2(C) CITIZENSHIP:
-----------
SAC Capital Advisors and SAC Capital Management are
Delaware limited liability companies. SAC Capital
Associates is an Anguillan limited liability company. Mr.
Cohen is a United States citizen.
ITEM 2(D) TITLE OF CLASS OF SECURITIES:
----------------------------
Common Stock
Page 6 of 10 Pages
ITEM 2(E) CUSIP NUMBER:
------------
05873K108
ITEM 3 Not Applicable
ITEM 4 OWNERSHIP:
---------
The percentages used herein are calculated based upon the
Shares issued and outstanding as of November 29, 2005 as
reported on the Issuer's quarterly report on Form 10-Q/A
filed with the Securities and Exchange Commission by the
Issuer for the quarterly period ended September 30, 2005.
As of the close of business on December 30, 2005:
1. S.A.C. Capital Advisors, LLC
(a) Amount beneficially owned: 2,439,200
(b) Percent of class: 6.4%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 2,439,200
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
2,439,200
2. S.A.C. Capital Management, LLC
(a) Amount beneficially owned: 2,439,200
(b) Percent of class: 6.4%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 2,439,200
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
2,439,200
3. S.A.C. Capital Associates, LLC
(a) Amount beneficially owned: 2,413,800
(b) Percent of class: 6.4%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 2,413,800
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
2,413,800
4. Steven A. Cohen
(a) Amount beneficially owned: 2,439,200
(b) Percent of class: 6.4%
(c)(i) Sole power to vote or direct the vote: -0-
(ii) Shared power to vote or direct the vote: 2,439,200
(iii) Sole power to dispose or direct the disposition: -0-
(iv) Shared power to dispose or direct the disposition:
2,439,200
Page 7 of 10 Pages
SAC Capital Advisors, SAC Capital Management and Mr. Cohen
own directly no Shares. Pursuant to investment agreements,
each of SAC Capital Advisors and SAC Capital Management
share all investment and voting power with respect to the
securities held by SAC Capital Associates, SAC Meridian
and SAC MultiQuant. Mr. Cohen controls each of SAC Capital
Advisors and SAC Capital Management. By reason of the
provisions of Rule 13d-3 of the Securities Exchange Act of
1934, as amended, each of SAC Capital Advisors, SAC
Capital Management and Mr. Cohen may be deemed to own
beneficially 2,439,800 Shares (constituting approximately
6.4% of the Shares outstanding). Each of SAC Capital
Advisors, SAC Capital Management, and Mr. Cohen disclaim
beneficial ownership of any of the securities covered by
this statement.
ITEM 5 OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS:
--------------------------------------------
If this statement is being filed to report the fact that
as of the date hereof the reporting person has ceased to
be the beneficial owner of more than five percent of the
class of securities, check the following. |_|
ITEM 6 OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER
PERSON:
--------------------------------------------------------
Not Applicable
ITEM 7 IDENTIFICATION AND CLASSIFICATION OF THE
SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING
REPORTED ON BY THE PARENT HOLDING COMPANY:
-----------------------------------------
Not Applicable
ITEM 8 IDENTIFICATION AND CLASSIFICATION OF MEMBERS
OF THE GROUP:
------------
Not Applicable
ITEM 9 NOTICE OF DISSOLUTION OF GROUP:
------------------------------
Not Applicable
Page 8 of 10 Pages
ITEM 10 CERTIFICATION:
-------------
By signing below the signatory certifies that, to the best of his
knowledge and belief, the securities referred to above were not acquired and are
not held for the purpose of or with the effect of changing or influencing the
control of the issuer of the securities and were not acquired and are not held
in connection with or as a participant in any transaction having that purpose or
effect.
Page 9 of 10 Pages
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: February 14, 2006
S.A.C. CAPITAL ADVISORS, LLC
By: /s/ Peter Nussbaum
-----------------------------------------
Name: Peter Nussbaum
Title: Authorized Person
S.A.C. CAPITAL MANAGEMENT, LLC
By: /s/ Peter Nussbaum
-----------------------------------------
Name: Peter Nussbaum
Title: Authorized Person
STEVEN A. COHEN
By: /s/ Peter Nussbaum
-----------------------------------------
Name: Peter Nussbaum
Title: Authorized Person
Page 10 of 10 Pages