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French-Hungarian relations reached a high point in the aftermath of the 1896 Millennium Celebration in Budapest. But by 1910, prospects for rapprochement had faded. The article explores the genesis of the rupture in relations that manifested itself in the Treaty of Trianon. It investigates events from two new perspectives: first, the career of French consul general Viscount de Fontenay before and during his stay in Budapest (1906–1912); second, the founding of the Revue de Hongrie along with its early years of publication. Fontenay began the Revue in March 1908 as a diplomatic initiative supported by the intellectual elites of France and Hungary and their governments. It was a monthly journal written entirely in French with subscriptions from individuals as well as prestigious universities, colleges, and libraries in Europe, North America, Australia, and Asia. This article explores relations between the two countries as reflected in the political landscape and the contents of the Revue. Finally, as a contribution to the previously neglected history of international cultural relations, this article identifies the key issue: there is no pure cultural diplomacy. It strives to use the frequently overlapping terms of this emerging field in such a way that the context in which they appear helps to clarify their meaning.