An interspecific fusant strain, Streptomyces MS1 was obtained by protoplast fusion between S. peucetius subsp. caesius and S. platensis. We studied on the fermentation characteristics of the fusant strain. The fermentation products of the fusant MS1 was identical with S. peucetius, but its production of anthracycline was more stable than S. peucetius under various fermentation conditions in regard to acidogenesis of fermentation broth. The optimal medium composition for anthracycline production by fusant MS1 as follows: sucrose 2.0%, glucose 1.0%, soytone 0.7%, $CaCO_3$ 0.2%, $KH_2PO_4$ 0.013%, casamino acids 0.01%, $K_2SO_4$ 0.025%, $MaCl_2;6H_2O$ 1.024%, 5M $CaCl_2;5H_2O$ 0.4%, 1N NaOH 0.7%, 20% L-proline 1.5%. In this condition, the productivity of anthracycline was $80{sim}100;{mu}g/ml$.