The Media Panel is used with the Media Player to manage Playlists of Music tracks or Video clips. You can hide the Media Panel by selecting the close button (4) in the panel to provide more horizontal width to the Activity Panel, and you can bring the panel back at any time by selecting the associated buttons on the Media Player.

Media Panel
Currently, the Playlist section (1) is the only active section available in the Media Panel. Play Info, Equalizer, and Recording sections are not available in version 1.07.
The Playlist section (1) displays the current list of tracks or clips which the Media Player will play. You can manage the list using the Playlist pop-up menu (2). Move the mouse over the Playlist, Playlist item, and click the right hand button on the mouse to display the pop-up menu. Select an option from the pop-up menu using the left hand button on the mouse.
As each track or clip plays, the Media player will update the progress through the Playlist. You can select a track to play by double-clicking on the item displayed in the Playlist.
Select from the different Media Panels, by selecting the Panel header shown in 3.