Perhaps this is the simplest and best solution which appears in this case. Just copy the desired items to a new dictionary and discard the original one.
import re
myDict={'a':'alpha','b':'beta','c':'charley','d':'disney'}
myNewDict={}
for k,v in myDict.iteritems():
if re.search("a",v)!=None:
myNewDict[k]=v
print myDict
print myNewDict
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