OUR STORY
OUR STORY
Milkovics & Schwartz continues a legacy of earlier enterprises rooted in resilience and innovation, founded over a decade ago by Pal Milkovics. The name “Schwartz” honors Pal’s grandfather, who originally carried this surname. During the Holocaust, Pal’s grandfather had to change his name to avoid persecution. Despite his efforts, he was captured and sent to a concentration camp, where he faced unimaginable horrors but ultimately survived. To honor his grandfather and restore the lost family name, Pal incorporated “Schwartz” into the company name.
Milkovics initially targeted the Central European media market, expanding into Finland in the early 2010s with the launch of the Nordic Food Channel. This venture was later sold to a competitor, allowing Pal to establish a broadcasting business in the Czech Republic and Slovakia. There, he developed three television channels - Mnam TV, Mnau TV, and Hobby TV - that quickly gained popularity. In 2018, Pal sold this business and returned to Hungary.
In 2019, he launched Pesti Hirlap, which rapidly grew into a multimillion-euro media conglomerate. By 2021, the company (Michaeli, Schwartz & Brit) included two radio stations (Jazzy, Klasszik), magazines such as ELLE and Cosmopolitan, and news sites like 168.hu and pestihirlap.hu. It also became a significant player in the outdoor advertising market (Adboard, Pannon Plakát). In the spring of 2024, Pal exited this venture.
Currently, Milkovics & Schwartz is diversifying beyond the media industry, entering the retail, e-commerce, and real estate sectors.
OUR BUSINESSES
FRITZ & ALBERT
In the early 1900s, in the bustling town of Prešov, a large Orthodox Jewish family welcomed two mischievous and curious boys, Fritz and Albert Schwartz. Known for their insatiable curiosity and hunger to explore life, they were tragically taken to Auschwitz during the Holocaust, ending their young lives filled with potential and promise.
Decades later, their cousin Pál Milkovics, born after the war, often imagined the incredible lives Fritz and Albert could have led. Inspired by their story, Pál decided to honor their memory by founding the Fritz & Albert Department Store, set to open in Budapest in 2026. Initially envisioned as a bookstore, this ambitious venture now combines a love for books with a full-fledged department store, marking the first and only such store in Budapest in a long time.
The Fritz & Albert Department Store will offer a wide range of products, from fashion and home goods to technology and gourmet food, all under one roof. Central to this venture is the Fritz & Albert Publishing House, celebrating stories that span the globe, ideas that challenge and inspire, and adventures that ignite the imagination.
This store will be a haven of exploration and learning, inviting everyone to experience the magic of books alongside the thrill of discovering new and unique products. Fritz & Albert aims to be more than just a department store; it’s a community that believes in the power of stories and the joy of discovery. Here, every product is a gateway to the extraordinary and an invitation to embark on your own adventures.
MILKOVICS & SCHWARTZ
media group
Milkovics & Schwartz Media Group is a dynamic enterprise with a rich history of innovation and success in the Central European media landscape. Initially focused on Central Europe, we established a broadcasting business in the Czech Republic and Slovakia. Over the last decade, through acquisitions and the founding of new businesses, we successfully managed television channels, radio stations, and popular magazines. Our partnerships included international brands like ELLE, Cosmopolitan, and Bloomberg.
By 2020, the group of companies led by Mr. Milkovics had become a dominant player in the Hungarian media industry, expanding its portfolio to include a variety of media outlets and a strong presence in the outdoor advertising market, rapidly evolving into a multimillion-euro media conglomerate. In the spring of 2024, Pal successfully exited this venture, marking the start of a new chapter.
Milkovics & Schwartz Media Group is now charting a new course, driven by the dramatic changes in media consumption over the last few decades. The way people consume media has evolved significantly, shifting away from traditional media, yet strong brands have continued to prevail. Recognizing this shift, our current focus is on acquiring well-established media brands and bringing renowned international brands to the Central European market. We aim to leverage our extensive experience and deep understanding of the media landscape to identify and seize these new opportunities.
Bolford Properties
Bolford Properties has a distinguished history of investing in real estate with character and intrinsic value, transforming them into outstanding financial assets. Our journey began with strategic investments in properties across Hungary, focusing on unique buildings that not only serve as great financial assets but also contribute significantly to their locales’ architectural and cultural heritage.
Milkovics & Schwartz is now dedicating significantly more resources and time to this line of business. Our expanded focus will include not only our traditional investments but also the establishment of a premier real estate agency. This new venture will specialize exclusively in prime and luxury properties, adhering to the same values that have guided our investments thus far.
The new agency will cater to discerning clients seeking high-end properties that offer a blend of luxury, prime location, and unique character. By leveraging our extensive experience and deep understanding of the real estate market, we aim to provide unparalleled service and value to our clients.
Our ultimate goal is to continue identifying and developing real estate opportunities that combine financial strength with distinctive character, ensuring that each project we undertake is a testament to our dedication to quality and value.
CONTACT
Inquiries
If you have any questions, inquiries, or feedback, we’d love to hear from you! Please write to us at hello@milkovics.com
Employment
Head Office
8 Szervita tér
Budapest - 1052
Hungary
While we have no current openings, we welcome spontaneous applications. To apply for a job with Milkovics & Schwartz, please send a cover letter and your C.V. to jobs@milkovics.com