#!/usr/bin/perl

    while (<DATA>) {

if (/(<\w+>)/) {
$flag = $1;
}
if($flag =~ m/<Content>/){
 s/\^[A-Z]/&lt;br\/&gt;/g;
}
else{
s/\^[A-Z]//g;
}
    print;

    }

__DATA__
<ID>^M
<Number>124^M</Number>^M
        <Content>
Some of the week's top stories:^M
EASTON AREA^M
BETHLEHEM AREA^M
CARBON, SCHUYLKILL AND REGION^M^M
have charged his mother's boyfriend, Paul Hoffman, with third-degree murder. Officials said the charges were filed after an exhaustive investigation that showed Miller, who died Sept. 25, had the mental capacity of a 12-year-old.^M
</Content>
^M
^M
^M
^M
^M
        ^M
</ID>