According to multiple sources, contract talks between Miller and the top-rated CBS soap have broken off without an agreement.
"It doesn't look good right now," a show insider told Soap Central. "The show is contemplating a recast if things don't work out."
In early November, The Young and the Restless released a casting call for the character of "Josh Williams." There are now whispers that the casting notice was actually a covert attempt to find potential replacements for Miller. Ditto for the casting call for a new member of the Abbott family that was released back in September.
In the description of Josh, the character was described as "mid to late 30s, handsome, successful and very sexy." The notice went on to say that Josh is "a smart businessman who can out-maneuver even the shrewdest."
During Miller's 2012 contract talks, a major sticking point was reportedly Miller's desire to have "outs" to do projects outside of daytime. This time around, a source says, Miller doesn't necessarily want to exit the show.
"In past contract talks, Y&R had to scramble to keep him," another insider added. "This time, Billy wants to stay [at Y&R] and is upset that things haven't worked out."
Sources also tell Soap Central that Y&R wants Miller to stick around. Still, Soap Opera Digest reports that Y&R has begun auditioning replacement Billys opposite Amelia Heinle (Victoria Newman) in the event that a recast becomes necessary.
"He's one of a kind and will be missed terribly if He goes," Heinle posted on Twitter after a separate post that expressed her desire for Miller to be signed to a new contract. "I'll do my best to convince Him to stay, that's the truth, working with Billy is one of my favorite parts of this show."
There is a silver lining for fans: Miller's current contract hasn't expired yet -- and reportedly doesn't until next month -- so there is still time for the two sides to reach a deal.
Miller began his daytime run in 2007 on ABC's All My Children. Miller debuted on The Young and the Restless in September 2008, becoming the fourth actor in six years to play the role of Billy. Miller has won two Outstanding Supporting Actor trophies at the Daytime Emmys, the first in 2010 and a second earlier this year.
The Young and the Restless does not comment on contract negotiations.
UPDATE: On November 18, CBS announced that Billy Miller has exited Y&R and Emmy winner David Tom will be reprising the role he played from 1999 to 2002. For complete details, click here.