The Young and the Restless is welcoming an Emmy-winning actor back into the fold. However, it comes at the expense of losing another Emmy-winning performer. Fan favorite Billy J. Miller has officially parted ways with the show, Soap Central has confirmed. He'll be replaced by David Tom, who last appeared as Billy in 2002.

"Please join me in welcoming Daytime Emmy winner David Tom back to #YR and @CBSDaytime as Billy Abbott's exciting storyline continues," CBS Daytime chief Angelica McDaniel shared on Twitter.

According to multiple sources, contract talks between Miller and the top-rated CBS soap broke off more than a month ago without an agreement. In early November, The Young and the Restless released a casting call for the character of "Josh Williams," which in reality turned out to be a casting call for Billy Abbott.

Last week, The Young and the Restless began auditioning potential replacements for Miller opposite actress Amelia Heinle (Victoria Newman). Tom was among those called in for the reading. After signing her own contract extension with Y&R, Heinle took to Twitter to assure fans that she'd try to convince Miller to also re-up with the show.

"He's one of a kind and will be missed terribly if He goes," Heinle shared on Twitter. "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."

A Y&R insider states that Miller and Y&R were unable to agree on "outs," allowances that give an actor permission to work on other projects while still working in daytime. In 2011, Miller landed a recurring role on the primetime drama Ringer.

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 was named Outstanding Supporting Actor at the Daytime Emmys in 2010 and earlier this year. He began his daytime run in 2007 as Richie Novak on ABC's All My Children.

"I respect Billy Miller's decision to move on and wish him great success in his future endeavors," McDaniel offered on Twitter.

Miller, who is not on social media, has not commented on his Y&R exit.

Tom, meanwhile, appeared as Billy from July 1999 to August 2002. Tom had originally planned to exit the show earlier, but extended his stay to allow Y&R to find a suitable replacement. Tom won an Outstanding Younger Actor trophy at the 2000 Daytime Emmys.

Three years after leaving Y&R, Tom joined the cast of One Life to Live as Paul Cramer, where he played the on-screen brother to his real-life sister, multiple Emmy winner Heather Tom (Katie Logan, The Bold and the Beautiful; ex-Victoria).

Between Tom and Miller, two other actors played Billy Abbott, but neither lasted more than a year. Ryan Brown held the role from December 2002 through July 2003, and Scott Seymour appeared for several months in 2006.

In a strange and somewhat soapy twist, David Tom's on-screen love interest is a role that was originally played by his real-life sister.

Miller will continue to tape at Y&R through the middle of December when his contract expires. He'll make his last on-screen appearance on January 30, 2014. David Tom returns just four days later on February 3, 2014.

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