while(<DATA>) {
    if (/^(\w+.+?(?:AM|PM))\s+(\w+.+?(?:AM|PM))/) {
        print $1,"\n", $2, "\n___\n";
    }
}
__DATA__
...

##</code><code>##

August 26, 2004 1:21:04 AM
August 26, 2004 1:22:16 AM
___
September 5, 2004 2:49:03 AM
September 5, 2004 2:49:37 AM
___
September 16, 2004 12:32:34 PM
September 16, 2004 12:33:26 PM
___
September 16, 2004 4:44:28 PM
September 16, 2004 4:44:34 PM