By Rizza Sta. Ana (media@latinospost.com) | First Posted: Apr 16, 2014 03:48 AM EDT

According to Billboard, Australian rock group AC/DC might have made an abrupt exit from the music industry as reports suggest that the rock band is retiring, and it's because of 61-year-old founding member Malcolm Young's condition.

Although insiders told the music magazine that it's business as usual for one of music's biggest acts, the group's management and record label Columbia Records opted to keep silent about the announcement.

USA Today cites a person who disclosed alleged insider information about Young's health in an email to 6PR. "Thunderstruck" said on Tuesday morning, "My information is that Malcolm Young has moved himself and his family back to Australia, he's very very ill and that AC/DC may well be history. I have extremely good contacts in Europe that are very close to AC/DC. I have it on very good authority that one of the band members is quite ill and has returned to Australia with his family."

Despite the fact that AC/DC could might as well hire a session player to fill in Young's shoes for the band to fulfill its commitments, The Telegraph said that AC/DC had a pact that the band will not continue if a member was forced to leave for any reason.

It is, however, interesting to note that AC/DC reportedly scheduled a Vancouver studio time on May 1st, which could suggest that the retirement rumors are just rumors, The Telegraph said. Earlier this year, vocalist Brian Johnson reportedly said that the band will be recording some new material in May and could go on a tour to celebrate their 40th anniversary.

This was not the first time the band has to postpone their commitments due to a member's health problems and remained mum about the mater, The Telegraph said. A couple of years ago, Johnson told a U.S. radio station about the delay of their 16th album, "One of our boys was pretty ill, so we didn't like to say anything, and we're very private about things like this, so we didn't want to say anything. And he's a very proud man."

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