If you don't understand how big AC/DC is just Google AC/DC retiring - this is everywhere and conflicting reports are still coming out. But here (I think) is the situation:
The band has made a pact that no one in the current lineup will be replaced and that if any member is unable to perform/contribute they will disband. This makes since as they basically currently maintain their classic (both pre and post Bon Scott) lineup at this point since Phil Rudd returned on drums in 1994.
According to sources Malcolm is extremely ill and has returned to Australia to be with his family. There is no report of what the illness may or may not be, nor the longevity or seriousness of such. However it may be serious enough that he is "unable to perform".
Even without the pact Malcolm is the backbone of this band, one of the founding members and (obviously) the brother of Angus. There is enough justification with or without a pact to discontinue.
They are booked in the recording studio for six weeks starting May 1st - this coincides with reports earlier this year for a 40th anniversary celebration including a new album and tour.
There has been no official statement from the band nor it's recording label or management at this point.
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