Media companies, talent agencies and startups are planning cocktail receptions and parties surrounding this weekend’s White House Correspondents’ Association dinner, but what will be strikingly different is the main event itself.

There will be no president, with Donald Trump, as he did in his first term, skipping it. There will be no comedian, as the Whca dropped plans to feature a comedian, Amber Ruffin. And the typical Hollywood turnout so far looks to be scant.

Instead, the dinner at the Washington Hilton looks to reflect the moment — which is to say a state of anxiety for journalism in general, with the Trump administration not just bucking tradition but doing its utmost to undermine traditional media.

The Whca’s president, Eugene Daniels, said earlier this month that he was planning a “re-envisioning” of the dinner at what he called a “consequential moment for journalism.” Daniels, formerly of Politico and now with MSNBC,...