No, if you mean the info that pops up when you select an asset in the Project Panel.
You can disable thumbnails in preferences but the info, which is extremely important when you are creating projects, is always displayed.
What a bummer. This preview-area is really useful. But often I've to work on a 11" display. And I try to get as much space as possible
You can make it narrower, just not shorter. To tell you the truth 90% of the time I don't even have that panel open. I press Ctrl/Cmnd + 0 when I need to see it, even when working on big screens. I open it up nice and big so I can see the assets I need to use and can organize the project in folders, then when a comp is created I hide the pane.