Abstract: In recent years, the authority of the press and universities as knowledge institutions has increasingly come under scrutiny – and not just from rising populists. Critics question the dedication of these institutions to producing knowledge, their commitment to open inquiry and intellectual rigor, the ethical norms they espouse and whether they adhere to them, and their degree of independence from influential funders and other powerful forces. This chapter sketches some tentative responses to these questions. It considers how the press and universities are similar as knowledge institutions and how they differ. It explores the nature of journalistic and academic topics and judgments, their independence in the pursuit of knowledge, the time frames of their work, and their ethics. It draws attention to how these two institutions use overlapping but not identical tools to develop new knowledge and test knowledge claims, and how sustaining the independent competencies necessary towards this goal is challenged by rising polarization and mistrust and by diminishing public and private financial support. It closes with some reflections on the interdependence among knowledge institutions and their longstanding roles in constitutional democracy.