In apparatus for reproducing a video signal which is recorded on a recording medium with a luminance component thereof non-linearly pre-emphasized and the signal portions thereof greater than a predetermined level being clipped; there are provided a non-linear de-emphasizing circuit which non-linearly attenuates the reproduced luminance component in a manner substantially complementary to the amount of the non-linear pre-emphasis, a gain control element, for example, in the form of a transistor, having a variable gain, and a compensating circuit for substantially recovering the clipped signal portions upon reproduction of the video signal, and in which the compensating circuit increases the gain of the gain control element for the portions of the reproduced luminance component at the predetermined level. The compensating circuit desirably includes a switching diode connected at one terminal to the collector of the gain control transistor and to a reference voltage at the other terminal such that the diode is made conductive for the portions of the reproduced luminance component of the video signal at the predetermined level to increase the gain of the transistor at the collector thereof.
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