Apparatus for recording and reproducing an information signal comprised of a video signal and an audio signal in a plurality of successive tracks on a magnetic tape, includes a recording section comprised of a PCM processor which converts the audio signal to a PCM audio signal and compresses the same, a dummy signal generator for compensating for tape jitter by generating a dummy signal and supplying the same to the PCM processor where the dummy signal is added both before and after each portion of the compressed PCM audio signal to be recorded in an overscan section of each track, and a magnetic head assembly which records the video signal in a main section of each track and each portion of the compressed PCM audio signal and dummy signal added thereto in the overscan section of each track; and a reproducing section comprised of a magnetic head assembly which scans the tracks to reproduce the information signal recorded therein, a switch assembly which separates the video signal reproduced from the main section of each track and the PCM audio signal reproduced from the overscan section of each track; a PCM processor which converts the PCM audio signal to the original analog audio signal and a timing signal generator for compensating for tape jitter by enabling the PCM processor only during a period slightly greater than the period of the PCM audio signal recorded in the overscan section of each track.