Metal alloy heatsink films for magnetic recording media are disclosed. The metal alloy heatsink films possess both high thermal conductivity and improved mechanical properties such as relatively high hardness. The metal alloy heatsink films also have controlled microstructures which are compatible with subsequently deposited crystalline magnetic recording layers. The films may comprise single phase CuZr or AgPd alloys having a selected crystal structure and orientation. The combination of high thermal conductivity, good mechanical properties and controlled microstructures makes the metal alloy heatsink films suitable for various applications including heat assisted magnetic recording systems.