$re = '/(?:<w-block-content.*[\s\S]*?<div>)([\s\S]*?)(?:<\/div>((?!<\/div>))*[\s]*?<\/span>[\s\S]*?<\/w-block-content>)/m';
$str = '</tr>
<td>
<div draggable="true" class="source master draggable-box wysiwyg-block" data-block-type="master" data-block-id="96e80afb-afa0-4e46-bfb7-34b80da76112" style="opacity: 1;">
<w-block-content data-block-content-id="96e80afb-afa0-4e46-bfb7-34b80da76112"><span class="source-block-tooltip">
<div>
Další master<br><div><b>Master č. 2</b> </div><br>
</div>
</span></w-block-content>
</div>
</td>
</tr>
</tr>
<td>
<div draggable="true" class="source master draggable-box wysiwyg-block" data-block-type="master" data-block-id="96e80afb-afa0-4e46-bfb7-34b80da76112" style="opacity: 1;">
<w-block-content data-block-content-id="96e80afb-afa0-4e46-bfb7-34b80da76112"><span class="source-block-tooltip">
<div>
Další master<br><b>Master č. 2</b><br>
</div>
</span></w-block-content>
</div>
</td>
</tr>
';
preg_match_all($re, $str, $matches, PREG_SET_ORDER, 0);
// Print the entire match result
var_dump($matches);
Please keep in mind that these code samples are automatically generated and are not guaranteed to work. If you find any syntax errors, feel free to submit a bug report. For a full regex reference for PHP, please visit: http://php.net/manual/en/ref.pcre.php