A magnetic recording and reproduction apparatus includes a main chassis having a cylinder provided thereon; a sub chassis on which a tape cassette is mountable; a plurality of tape pull-out members acting to pull out a tape from the tape cassette; and at least one arm for driving at least one tape pull-out member. The sub chassis is movable relative to the main chassis between a tape cassette mountable position and a tape pull-out completion positions. The main chassis includes at least one guide member for guiding the at least one tape pull-out member while the sub chassis moves between the above-mentioned two positions. The at least one arm is provided in the sub chassis, and drives the at least one tape pull-out member such that the member pulls out the tape while the sub chassis moves from the tape cassette mountable position to the tape pull-out completion position.