Two poly(p‐phenylenevinylene) derivative alternating copolymers ( P1‐I and P2‐I ) have been prepared featuring iodo substituents and m‐phenylene units to periodically disrupt conjugation. P1‐I was derivatized with various chromophores to yield P1a‐f . In P1a‐f , the chromophores were positioned within a sterically protected pocket shielding them from interchain interactions so that intrachain interactions between polymer segments could be observed. Solution and film properties of polymers have been examined. Post‐polymerization chromophore modification leads to new photophysical properties such as intramolecular charge transfer and fluorescent resonance energy transfer processes in some cases.