Lear deranged and demoted (4)

I believe the answer is:

earl

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'and demoted' is the definition.
I can't judge whether this definition defines the answer.

'lear deranged' is the wordplay.
'deranged' is an anagram indicator.
'lear' anagrammed gives 'EARL'.

Can you help me to learn more?

(Other definitions for earl that I've seen before include "British nobleman" , "Countesss husband" , "One who's been elevated" , "Peer of the realm" , "Husband of a countess" .)

I've seen this clue in The Globe and Mail.

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