No news about zee acquiring it yet.I think, north east gec rang might be rebrand as zee rang.
But i also feel that this will be mostly rebrand of rang as ZEE rang.
as the name will not be suitable for other genres.
From Name, I feel zee action will rebrand catering to south Indian dubbed movie audience.Green color means another movie channel. But for which market? If it is for Hindi then possibly either zee action or anmol Cinema rebranding
But then they will have the colors for movie channel in same genre.
It could also be Bhojpuri movie channel with big ganga rebranding as ZEE ganga with orange logo.