We report the synthesis and characterization of copolymers comprising poly(phenyl sulfide) (PPS) blocks and semiaromatic thermotropic liquid crystalline polymer (TLCP) blocks. The copolymers, synthesized by melt-transesterification of dicarboxy-terminated poly(phenylene sulfide) with poly(ethylene terephthalate-co-oxybenzoate) (PET/OB), were characterized using Fourier transform infrared spectroscopy (FTIR), differential scanning calorimetry (DSC), X-ray diffraction (XRD), and polarized light optical microscopy (PLOM). The crystallizability and liquid crystalline properties of the copolymers are greatly influenced by the extent of interchange reactions, the mole percent of oxybenzoate with respect to the PET, the PPS : PET/OB weight ratio, and the reaction time.