We present an investigation of the magnetic properties of metallic La0.75Sr0.25MnO3/LaNiO3 multilayers. We have deduced that the free energy of the structures is mainly driven by the magnetic anisotropies of the La0.75Sr0.25MnO3 layers. We have proved the existence of a magnetocrystalline cubic anisotropy, whose easy axes are oriented in the 〈1 1 0〉 directions and a substrate-induced in-plane uniaxial anisotropy that favours a (0 1 0) orientation of the magnetization. We have also shown that the magnetic layers are ferromagnetically coupled for LaNiO3 spacers thinner than 2 nm. For thicker spacers, the coupling strength oscillates with increasing LaNiO3 thickness. © 2006 Elsevier B.V. All rights reserved.