In a time when the future of the daytime drama genre appears very much in question, there is a glimmer of hope. CBS has announced that it has renewed The Young and the Restless for an additional five years.

In an announcement made earlier this month, Nina Tassler, President of CBS Entertainment, revealed that CBS had reached a deal with Sony Pictures Television to secure the broadcast rights of The Young and the Restless for another five years. While CBS airs Y&R, it is not the owner of the program.

"Y&R has reached out into the hearts of millions of viewers and maintained an unprecedented level of excellence for the daytime genre," said Barbara Bloom, Senior Vice President, CBS Daytime Programs. "We are thrilled to continue our successful partnership."

The Young and the Restless is now in its 32nd year on television and has spent nearly 16 years - a whopping 830-plus consecutive weeks - as the number one program on daytime television.