The Young and the Restless is set for major fallout after Lily Winters receives ownership of Chancellor and passes control to Cane Ashby.
The development follows a deal Lily struck with Victor Newman. She and her twins staged a kidnapping to pressure Cane, in exchange for the company. Victor signed over Chancellor to Lily at the ranch on the prior Friday without informing most of the Newman family. Nick Newman witnessed the transfer and expressed concern it would upset Nikki Newman. Victoria Newman, who had been running the company, learned of the change from Lily at the Shadow Room launch. Victoria insisted the move would be reversed and that the company belonged to her mother. Billy Abbott is also expected to react strongly, given his history with the company. Additional fallout may involve Devon Hamilton and Nate Hastings once word spreads about Cane's new role and potential hires.