In order for you to create a playlist in a station's media library, you need to be a staff member of that station (or, of course, be the owner).
Creating a playlist
Navigate to the station's administration panel and click on the 'Media Library' button at the bottom left in order to access the station's media library.
Your playlist has been successfully created! Click on 'Playlists' and see your newly created playlist with the songs you selected.
Now click on the 'Selected tab' and select 'Clear all selected items' to clear your selection. If you want to reorder the songs in the list, just select a song and use the 'Move up' and 'Move down' buttons on the top of the screen to change their position. Make sure you click 'Save Changes' once you are done.