a magnetic recording and / or reproducing apparatus , comprising a rotary head device , in which a magnetic tape is drawn out of a cassette and brought into contact with the rotary head device . a tape draw - out device , doubling as a tape guide , forms a predetermined tape path and guides the drive of the magnetic tape after drawing out the magnetic tape . a fixed magnetic head and other tape guide mechanism are movably arranged on the path of the tape draw - out device during operation of the apparatus for reducing the size thereof . with the tape loading operation , the fixed magnetic head and the other tape guide are moved by a common drive mechanism and held in position by a common stopper .