Granular-type FePt perpendicular magnetic recording media with (001)-texture, obtained by annealing FePt/MgO multilayer films, are fabricated onto 2.5-in glass discs. For the sake of spin-stand testing, the coercivity of FePt films is carefully modulated by controlling the annealing conditions. With annealing, exchange coupling between FePt grains is decreased, indicated by the reductions in α value and activation volume. FePt ordering process is dependent on initial FePt/MgO multilayer structures, which governs the optimum annealing condition regarding coercivities and α(=4π(dM/dH)H=Hc). The SNR ratio exhibits a sensitive dependence on initial FePt/MgO multilayer structures as well as annealing conditions.