A novel type of high molecular and film forming PAV-derivative, namely alternating PAV/PPV copolymers 3 - 4, has been prepared by polycondensation using the principle of HORNER reaction (PO-activated olefination). In these polymers backbone conjugation is interrupted by arylamino or ether groups to result in segmented poly(arylene vinylene)s. They consist of well-defined distyrylbenzene (DSB) blocks. Thin films exhibit both photoluminescence and electroluminescence, emitting blue (3b), green (3a), and green yellow (4b) light. It has been found that band gap and oxidation potential are strongly dependent on the nature of Y that joins the DSB units. Thus, model compounds M 3, M 4 containing only one DSB unit reflect well the characteristic fluorescence and redox behaviour of the respective polymers. The N-containing copolymers 3a, 4a due to their low oxidation potential (0,6 - 0,8 V vs. Ag/AgCl) are of particular interest as photoconducting and electroluminescent materials.