January 27, 2006 |
Two activist hedge funds succeeded Thursday in electing three candidates to the board of Bally Total Fitness Holding Corp. but failed in a bid to remove Paul Toback as chairman and chief executive, the company said after its annual meeting. Chicago-based Bally, the largest U.S. fitness center operator, said Charles Burdick, Barry Elson and Don Kornstein appeared to have been elected to Bally's board, based on preliminary results. Final results are expected within two weeks.
October 16, 2001 |
Bally Total Fitness Holding Corp., North America's biggest operator of health clubs, agreed to buy Crunch Fitness for about $90 million in stock and cash to increase its appeal to young, urban clients. New York-based Crunch, which will operate as a separate brand, has 80,000 members at 19 health clubs in New York, Los Angeles, Miami, Chicago, San Francisco and Atlanta. Bally will issue about 3 million common shares to holders of closely held Crunch.
February 10, 2005 |
After a five-month internal investigation, Bally Total Fitness Holding Corp. has fired two mid-level executives and accused its former chief executive and chief financial officer of faulty accounting practices. The gym operator said former CEO Lee Hillman and former finance chief John Dwyer were responsible for "multiple accounting errors and for creating a culture of aggressive accounting." The company said it had ceased severance payments to both men.
December 28, 2005 |
Bally Total Fitness Holding Corp. is preparing a possible "poison pill" takeover defense because it says two of its largest shareholders may be acting in collusion. The nation's largest fitness-club chain said in a statement Friday that it was "considering its options" to determine whether its shareholder rights plan was triggered because Liberation Investments and Pardus Capital Management were working together.
December 30, 2004 |
After helping you put it on, now they want to help you take it off. Yum Brands Inc. -- which owns the Taco Bell, Pizza Hut, KFC, Long John Silver's and A&W chains -- is offering free, four-week memberships at Bally Total Fitness Holding Corp. clubs in January to people bent on indulging without bulging. The timing of the promotion coincides with the ritual of making a New Year's resolution to lose weight.
September 19, 1998 |
Nationwide gym operator Bally Total Fitness Holding Corp. is whipping its business into better shape, but that's nothing compared with its stock's calisthenics this year. Bally's shares tripled in price between mid-1997 and mid-July of this year in response to the company's improvement, then dropped like dead weight during the last two months, plunging 48% since July 20. The stock closed Friday at $19.19 a share, up 6 cents on the day, in New York Stock Exchange composite trading.