Just when many viewers of The Young and the Restless (me included) were ready to roll their eyes and write Billy (Jason Thompson) off as an obsessed annoyance on the show, he may have finally proven that all his obsessing was not for naught. During the episode airing on August 13, Billy sits down with Jack (Peter Bergman) and Kyle (Michael Mealor) and explains that he finally discovered what his mom has been hiding. Billy shocks his brother and nephew by announcing that the secret is that the Abbotts actually own Chancellor Industries.
How do the Abbotts Own Chancellor?
CBSGoing way back to the beginning of Chancellor, it was originally founded by Katherine Chancellor’s (Jeanne Cooper) first husband, Gary Reynolds, and it was called The Reynolds Company. When he passed, she married Phillip Chancellor, and he became the CEO of the company, renaming it in the process to Chancellor Industries.
Now, as Billy tells it in the aforementioned episode, at some point, Chancellor Industries was burdened by financial debts that threatened to end the business for good. That’s when John Abbott (Jerry Douglas) stepped in to help Phillip get the company out of debt. The two men allegedly signed a contract that John would loan Phillip money, and if Phillip didn’t repay within 20 years, all of Chancellor would go to John and his heirs. Billy believes the debt was never paid, and as such is the case, Billy, Jack, Ashley (Eileen Davidson), and Traci (Beth Maitland) are the true owners of Chancellor, not Lily (Christel Khalil).
Will the Abbotts Really Take Control of Chancellor?
If Billy had his way, the answer to this question would be a resounding yes. He’d be at Chancellor trying to take over the CEO office by the end of the week. However, Billy’s claims are likely to be heavily rebuffed by Lily, current CEO Cane (Billy Flynn), and, to no one’s surprise, Victor (Eric Braeden).
Lily has wanted to control Chancellor for years, and after Victor finally lived up to his promise and gave it to her once he regained Newman Enterprises, she probably won’t let go of the company without a fight, even if she is now running Winters Inc on her own. She also probably doesn’t want another CEO position ripped from Cane after he lost Arabesque. Cane would also probably be resistant to stepping aside for Billy out of respect for not wanting Jill (Jess Walton) to be hurt by this news coming out.
Then there’s The Mustache himself. Victor loathes Billy and Jack, and would probably do any mischievous thing he can to prevent Chancellor from going to the Abbotts. While Victor has agreed to stop going after the Abbotts for now for Nikki’s (Melody Thomas Scott) sake, Victor almost certainly would develop a renewed interest in his vendetta over Chancellor ownership. All in all, Billy may want to temper his excitement, as the Abbotts exerting control over Chancellor isn’t likely to be easy, if even possible.
