A recording and/or reproducing apparatus arranged to permit an interchange of record bearing media and selection between recording and reproducing modes of operation on the medium comprises look-up device for looking up the presence or absence of an existing record in each recording or reproducing position on the record bearing medium loaded on the apparatus, and control device arranged to control the look-up device to cause it to perform a look-up action in response to opening of a lid for replacement of the record bearing medium and to cut off the power supply upon completion of the look-up action. The control unit thus lowers electric energy consumption and saves electric energy from being wasted by the look-up action.