import re
s = "person alpha:\n How are you today?\n \n person beta:\n I'm fine, thank you.\n \n person alpha:\n What's up?\n \n person beta:\n Not much, just hanging around."
pattern = r"^person (?:alpha|beta):\n (?:(?!person (?:alpha|beta):).+(?=\n |$))*"
print ( re .findall ( pattern, s, re .M ) )
aW1wb3J0IHJlCgpzID0gInBlcnNvbiBhbHBoYTpcbkhvdyBhcmUgeW91IHRvZGF5P1xuXG5wZXJzb24gYmV0YTpcbkknbSBmaW5lLCB0aGFuayB5b3UuXG5cbnBlcnNvbiBhbHBoYTpcbldoYXQncyB1cD9cblxucGVyc29uIGJldGE6XG5Ob3QgbXVjaCwganVzdCBoYW5naW5nIGFyb3VuZC4iCnBhdHRlcm4gPSByIl5wZXJzb24gKD86YWxwaGF8YmV0YSk6XG4oPzooPyFwZXJzb24gKD86YWxwaGF8YmV0YSk6KS4rKD89XG58JCkpKiIKcHJpbnQocmUuZmluZGFsbChwYXR0ZXJuLCBzLCByZS5NKSk=