NEWS Spoilers Friday, 6/4/2026 Episode (June 4, 2026) | The Young and the Restless Spoilers

The Young and the Restless (Y&R) recap for Thursday, June 4, reveals that Phyllis Summers (Michelle Stafford) will finally strike a deal and hand Newman Enterprises back over to its rightful owners.

Phyllis won’t be happy about it, but it’s about the only option she has left at this point!

At Crimson Lights, Michael Baldwin (Christian LeBlanc) will find Phyllis working and question her since she previously suggested she was ready to give up Newman.

Phyllis will argue that she changed her mind, but Michael will change it back and offer to go with her to work out a deal at the Newman ranch.

At the GCAC, Victoria Newman (Amelia Heinle) will pull out her phone to call a doctor about Nikki Newman’s (Melody Thomas Scott) headaches, but Nikki will stop her and feel certain that they’ll clear up once things are less stressful.

Although Nikki won’t have high hopes about Phyllis doing the right thing regarding the company, Victoria will be more optimistic.

Victoria will also think maybe this will lead to Nikki and Victor Newman (Eric Braeden) fixing their marriage, but Nikki won’t have high hopes for that either.

Nick Newman (Joshua Morrow) will come along in good spirits after his first rehab session, but Victoria will wonder why they should believe him since he lied before.

Nick will get why Victoria would be skeptical, but he’ll promise he’s committed to his recovery.

As for Michael, he’ll take Phyllis to the Newman ranch for her meeting with Victor and Christine Blair Romalotti (Lauralee Bell). Y&R spoilers say Nick and eventually Victoria will join the discussion.

Phyllis will want Victor to admit he fabricated the emails against her as well as Cane Ashby (Billy Flynn).

If Victor does that and Christine drops the charges, Phyllis will be willing to hand over Newman Enterprises.

Victor will refuse to incriminate himself at first, but Nick will push him to give a little since Phyllis is doing the same.

Christine will insist she’s not dropping this case unless she has a compelling reason to do so.

Victor will finally admit that he did what he felt was necessary to get back what was stolen from him.

Christine will realize Victor and Victoria lied about the emails being legit, so she’ll lash out and warn that she won’t make the mistake of trusting them again.

Michael and Nick will do their best to convince Christine to let all this go.

Victor will ultimately agree to provide evidence that the emails were indeed fabricated.

Once Phyllis realizes she’s in the clear, Michael will assure Victor that he’ll have papers on Newman’s transfer within the hour.

At Crimson Lights, Adam Newman (Mark Grossman) will wonder what Chelsea Lawson (Melissa Claire Egan) would think about having another baby – maybe even a little girl this time.

Chelsea will admit she doesn’t want to go through another pregnancy and would rather focus all their energy on Connor Newman (Judah Mackey).

When Chelsea questions if Adam’s asking because of Sally Spectra’s (Courtney Hope) pregnancy, he’ll acknowledge that it might’ve planted the seed.

However, Adam will downplay the whole thing and apologize if he’s made Chelsea uncomfortable.

Chelsea will sense that Adam was triggered by Sally’s baby news and will push him to open up a bit about Ava, so Adam will admit he still talks to his deceased daughter sometimes.

After Chelsea gives Adam some support, they’ll get called over to the Newman ranch.

That’s where Adam, Chelsea, Victor, Victoria and Nick will all celebrate once the transfer is official.

There’ll be some toasts, but Victoria won’t think the celebration feels right without Nikki.

Victoria will hope maybe Victor and Nikki can just put everything behind them, but Victor just stroke her hair tenderly without agreeing to anything.

At the GCAC, Phyllis will grumble to Michael about how her “life sucks” now that everything went “poof.”

Phyllis will eventually corner Christine and suggest the only satisfying part of all this watching her become a flop on her first case back as DA!

The Young and the Restless spoilers say Phyllis will have to figure out what her next chapter’s going to look like, so stay tuned.