Abstract: In a magnetic video recording/reproducing apparatus having a recording circuit for recording two kinds of video signals for different aspect ratios a.sub.1 and a.sub.2, where a.sub.1 >a.sub.2, a reproduced signal for aspect ratio a.sub.1 is subjected to a time-axis processing and then delivered to a monitor television having the aspect ratio a.sub.2 in order to avoid a picture on the monitor television from being so distorted as to be elongated vertically. During the time-axis processing, a Y/C interleave set-up processing and a time-axis variation correcting processing are also carried out as necessary. A reproduced signal for aspect ratio a.sub.2 is subjected to a time-axis processing and then delivered to a monitor television having the aspect ratio a.sub.1 in order to avoid a picture on the monitor television from being so distorted as to be elongated horizontally.