Redistribution of poly(2,6-dimethyl-1,4-phenylene ether) (PPE) with a phenolic compound yields a depolymerized polymer having the phenolic compound incorporated as the tail end. The molecular weight of the product is adjusted by use of the ratio of phenol over PPE repeating units. PPE oligomers and telechelics with a large variety of end groups, including reactive end groups, can be prepared in this way. Furthermore, block copolymers can be prepared by reacting a phenol terminated polymer in a redistribution with PPE. This is illustrated by the reaction of phenol terminated polystyrene with PPE, leading to polystyrene-PPE diblock copolymers. TMDPQ or copper/amine catalysts can be used as catalyst depending on the reacting phenolic compound, desired reaction time, and product purity. For a fast PPE redistribution with ortho-unsubstituted phenols, without any oxidation of the methyl substituents of the PPE chain, the use of TMDPQ is preferred. For the preparation of pure oligomers and block copolymers, a slow redistribution using copper catalysts in the absence of oxygen is preferred.