Theakston and Brazier have launched legal action against News Group Newspapers, publisher of the tabloid paper, along with the journalist Ted Hynds and Colin Stagg, who was wrongly accused of murder in the early 1990s, reports The Guardian.
These new civil actions against News Group Newspapers, a subsidiary of Rupert Murdoch's News International, all relate to allegations of voicemail interception by the now defunct News of the World.
The claims were revealed yesterday as it was announced that singer Charlotte Church had settled her phone hacking case with paper, preventing a high-profile trial from going ahead on Monday.
Brazier's relationship with Big Brother contestant Jade Goody, who died in 2009 of cervical cancer, was well documented in the press, while Theakston hit the headlines in 2001 over claims that he visited a Mayfair prostitute.
Stagg, who was wrongly suspected of the murder of Rachel Nickell in 1992, said last July that he felt "sick and angry" after being informed by police that his phone may have been targeted by the News of the World.
Hynds is an investigative journalist who wrote a book in 2007 about Stagg's bid to clear his name. He had also been informed by the Met that he was a hacking target.
Also this week, it emerged that Cherie Blair, the wife of former prime minister Tony Blair, is taking legal action against News Group Newspapers over alleged phone hacking.
This Sunday, Murdoch's UK newspaper publisher will return to the Sunday papers market with a seventh edition of The Sun.
> Sun on Sunday: Will you be buying Murdoch's new tabloid?