AC/DC are reportedly not yet ready to call it quits. That's the latest news we have after a story broke last night (April 14) that suggested they were planning to retire, effective immediately.

Billboard gets the denial from unnamed "insiders." There's not even a direct quote from one of them, but the industry publication says, in no uncertain terms, "there's no truth to the rumors." That said, they are just as quick to note that neither their management nor record label have issued any comment on the matter.

The word that AC/DC were hanging up their flat cap and schoolboy outfit came from Peter Ford, an Australian entertainment reporter. He said that Malcolm Young was ready to retire for "personal reasons," and that the five men have a pact that prohibits the band from continuing in the event of a member's departure.

It has been hinted -- but again, not confirmed -- that the "personal reason" causing Young to leave is a serious illness. In January 2012, singer Brian Johnson said that the follow-up to 2008's 'Black Ice' had been delayed due to someone's poor health, but did not specify which member. Still, two months ago Johnson revealed that they would be entering a Vancouver studio in May with the intention of recording a new album, with a 40-city tour to commemorate their 40th anniversary.

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