Microcolumnar structure of Co-Cr film has been studied with use of chemical etching. Only the columns are dissolved leaving the column boundaries a microhoneycomb structure. From the composional analysis of etchant after etching, Cr segregated column boundaries have been confirmed to exist even in the high rate sputtered Co-Cr films. The Co-Cr film with higher Hc shows sharper and narrower grain boundaries whose Cr content is also higher. It is concluded that degree of Cr segregation is very important factor for the control of the mametic oronerties of the Co-Cr films.