Victor Newman Offers Phyllis Summers Control of Arabesque on The Young and the Restless

Victor Newman surprises Phyllis Summers by offering her ownership of the struggling company Arabesque as a thank‑you for helping save Nick Newman’s life. Phyllis, having just lost control of Newman Enterprises, is skeptical but accepts the chance to rebuild a business of her own.

The episode also sees Billy Abbott furious with Lily Winters after she announces that Victor restored Chancellor and placed Cane Ashby in charge, a move Billy deems a mistake. Meanwhile, Victor continues a covert plan that places Matt Clark in a position to spy on Cane Ashby, with Adam Newman tasked with facilitating Matt’s first contact. Victor asks Phyllis not to interfere with the Matt plot, and she concedes.

Other story threads include Stephanie Simmons thanking Nate Hastings for a job recommendation, and Nick Newman opening up about his addiction in a heartfelt discussion with his family.