You can't hide it, the best you could do is make it a little harder to figure it out. And this is just obscuring, it is NOT securing.
For the server side portion, you could change:
file: "http://example.com/Media.m3u8",
to
file: window.atob('<?php echo base64_encode("http://example.com/Media.m3u8");?>'),
and then the output will be:
file: window.atob('aHR0cDovL2V4YW1wbGUuY29tL01lZGlhLm0zdTg='),
Just know, this won't stop anyone who really wants to figure it out. It will only stop someone who doesn't know anything about programming and is too lazy to spend five minutes on it.