import re
pattern = r"^([A-Z]+:)|[A-Z]+"
s = r"TILL: LOOK we've got like a new bOArd"
result = re.sub(
pattern,
lambda x: x.group(1) if x.group(1) else "<emph>{0}</emph>".format(x.group().lower()),
s
)
print(result)
aW1wb3J0IHJlCgpwYXR0ZXJuID0gciJeKFtBLVpdKzopfFtBLVpdKyIKcyA9IHIiVElMTDogTE9PSyB3ZSd2ZSBnb3QgbGlrZSBhIG5ldyBiT0FyZCIKCnJlc3VsdCA9IHJlLnN1YigKICAgIHBhdHRlcm4sCiAgICBsYW1iZGEgeDogeC5ncm91cCgxKSBpZiB4Lmdyb3VwKDEpIGVsc2UgIjxlbXBoPnswfTwvZW1waD4iLmZvcm1hdCh4Lmdyb3VwKCkubG93ZXIoKSksCiAgICBzCikKCnByaW50KHJlc3VsdCk=