A recording and/or reproducing apparatus using a magnetic tape as a recording medium such that, when holding by a holding mechanism is released at the position where a cover member is closed and a magnetic head is moved between a contact position, where contact with a magnetic tape which travels by a traveling mechanism provided in the apparatus body is obtained, to a position distant from the magnetic tape or when the magnetic tape is pinched by the traveling mechanism, the pinching of the magnetic tape by the traveling mechanism is released and the magnetic head is moved to a distant position. In this manner, even if the apparatus is stopped when the power source is shut off while the FWD reproducing mode or the REV reproducing mode is kept set, the magnetic tape can be safely and securely extracted from the attachment section.