The Globe and Mail reports in its Tuesday edition that Quebecor has made an offer to buy Corus Entertainment, but the financially distressed media company appears unwilling to engage with the offer. The Globe's Alexandra Posadzki and Jameson Berkow write that representatives of Quebecor met around six months ago with Corus executive chair Heather Shaw. That meeting was followed by a purchase offer several weeks ago. However, Corus has not responded to Quebecor's overtures. Unknown to The Globe are specific terms of Quebecor's offer or any details around how the deal would be structured. For Quebecor, acquiring Corus could generate operational synergies by reducing operating costs and increasing its purchasing power when acquiring content. Corus (13 cents) owns Global News as well as dozens of television and radio stations across the country. Quebecor owns TVA Group, which operates a television network as well as some specialty channels and has 42-per-cent market share in Quebec. Earlier this month, Corus got an extension from its bankers, giving it until Oct. 15 to resolve its debt crisis. Ratings agency Morningstar DBRS downgraded Corus from B to B (low) Monday, citing concerns about the company's liquidity position.