Compositional microstructures in magnetic recording films, Co-Cr alloys, were studied by using small-angle neutron scattering (SANS), transmission electron microscopy and nuclear magnetic resonance techniques. Magnetic microdomains whose size correlated well with that of the compositional microstructures were also observed by using SANS technique. The size of the microstructures was smaller than crystal grain size. These results demonstrate that the compositional structures promote the magnetic microstructures suitable for high density recording.