Audioslave were formed in 2000 from the ashes of Rage Against the Machine. It was when the three remaining members (Tom Morello, Tim Commerford and Brad Wilk) jammed with ex-Soundgarden vocalist Chris Cornell that the touch paper was lit producing a rich, produced rock sound which owed more to the polished influence of Soundgarden than the rougher RATM.
Unfortunately, after a flurry of songwriting activity the band managed to break up before it had even begun in 2002, but it was a brief split and Audioslave was released later that year to significant acclaim.
Their second album Out of Exile was released in 2005 and performed equally well. They continued to tour extensively and released their third album Revelations in 2006. Unfortunately, by early 2007 Cornell announced his departure from the band. In keeping with such events, the truth about whether the departure was amicable or not depends on the press you read. It remains to be seen where Audioslave go from here.
