The Crown Prosecution Service has said no further action will be taken against two individuals regarding allegations of money laundering.
The cases arose as part of Operation Weeting, the Metropolitan Police's investigation into phone hacking.
There are reports that further details of phone hacking could emerge at the High Court this morning ahead of a Commons vote on press regulation.
The Independent has reported that a 'supergrass' will reveal 800 new victims of phone hacking at the News of the World.
The paper claims that officers believe they have, "discovered evidence of a widespread but previously unknown conspiracy centred on the News of the World features desk."
The Crown Prosecution Service (CPS) said it has droppws charges against a journalist investigated over phone hacking.
In a statement, the CPS said: "Having carefully considered the matter, the CPS has concluded that there is insufficient evidence for a realistic prospect of conviction in relation to that journalist."
Another journalist remains under investigation.
Former News of the World Deputy Editor Neil Wallis took to Twitter to say that he is the journalist who will not now face charges:
A journalist arrested during a new police investigation into phone hacking has been released on bail, police said.
The 39-year-old man was arrested in Greenwich over a suspected conspiracy that took place between around 2005 and 2006.
He will answer bail in May, pending further inquiries, Scotland Yard said.
The man was one of six former News of the World journalists arrested yesterday as part of a new line of inquiry that is separate from allegations under the existing Scotland Yard investigation into phone hacking called Operation Weeting.
They have all now been bailed until mid-May.
Five people arrested on suspicion of phone hacking have been released on police bail, Scotland Yard has said.
The individuals had been interviewed at various police stations in London and Cheshire and searches were carried out at a number of addresses, the force added. A 39-year-old man arrested in Greenwich remains in police custody.
A Met spokesman said: "In due course officers will be making contact with people they believe have been victims of the suspected voicemail interceptions."
Six former News of the World journalists have been arrested under a new police investigation into phone hacking. Three men and three women were all held today under a suspected conspiracy, that took place around 2005 and 2006.
They are understood to be Jules Stenson, Matt Nixson, Rav Singh, Jane Atkinson, Polly Graham and Rachel Richardson. Ms Richardson and Ms Atkinson both work for The Sun.
The arrests, five in London and one in Cheshire, were made as part of a new line of inquiry that is separate from allegations under the existing Scotland Yard investigation into phone hacking called Operation Weeting.
An internal message has been sent to News International employees confirming that two of those arrested are journalists currently working for The Sun.
The pair have been provided with lawyers.
Police believe this latest suspected conspiracy took place primarily during 2005 to 2006 and is separate from the alleged conspiracy already being investigated by Operation Weeting in which a number of people have already been charged.
As part of the new lines of inquiry six people were arrested this morning on suspicion of conspiracy to intercept telephone communications All of them are journalists or former journalists:
- A 46-year-old man was arrested in the London Borough of Wandsworth
- A 39-year-old man was arrested in the London Borough of Greenwich
- A 45-year-old man was arrested in the London Borough of Wandsworth
- A 39-year-old woman was arrested in Cheshire
- A 33-year-old woman was arrested in the London Borough of Islington
- A 40-year-old woman was arrested in the London Borough of Lambeth
All six of those arrested worked for the News of the World.
Six current and former journalists in London and Cheshire have been arrested by detectives investigating "a further suspected conspiracy to intercept telephone voicemails by a number of employees who worked for the now defunct News of the World newspaper", Scotland Yard said.
A 46-year-old man been arrested at his home in south-west London this morning on suspicion of perverting the course of justice by detectives from Operation Weeting.
Operation Weeting is the met Police's inquiry into the phone hacking of voicemails.
The man is in custody at a south London police station.