AC/DC have announced a brand new studio album, โ€œRock Or Bustโ€, set to be released on December 1.

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The group have also confirmed founding guitarist Malcolm Youngโ€™s retirement from the band, due to health problems, which makes โ€œRock Or Bustโ€ the groupโ€™s first ever release without Young.

Instead, the Young brothersโ€™ nephew, Stevie Young, joins the group on the new album and on its accompanying world tour.

The 11-track โ€œRock Or Bustโ€ was produced by Brendan Oโ€™Brien and recorded at Warehouse Studio, Vancouver, earlier this year. It will be AC/DCโ€™s first album since 2008โ€™s Black Ice, which has sold nearly eight million copies since its release.

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A track from the new album, โ€œPlay Ballโ€, will receive its premiere on Turner Sports as part of the 2014 Major League Baseball Postseason campaign, from September 27.