We present experimental data showing a correlation between the magnetic field dependence of the attenuation of 601.4-MHz Rayleigh-mode surface acoustic wave propagating through evaporated thin films of Ni and the dc magnetoresistance of these films. This correlation provides (1) a method for characterizing the magnetoelastic coupling between the Rayleigh waves and the films’ magnetic moment and (2) insight into the magnetic domain structure and anisotropy dispersion of these films which typically have uniaxial magnetic anisotropy. Upon application of relatively modest dc magnetic fields (<80 Oe) in the film plane both the variation in surface wave attenuation (70 dB/cm) and magnetoresistance (≂1%) can be quite large.