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Drupal.settings.media.browser is undefined @ http://example.com/drupal/sites/all/modules/media/js/plugins/media.library.js?m7ww1r:7
I don't understand what's going on here. But if added a line before line 7:
if (typeof Drupal.settings.media.browser == 'undefined') return;
The error is gone and editor is loaded.