Blends of poly(ethylene terephthalate) (PET) and poly(ethylene terephthalate-co-4,4Ј-bibenzoate) (PETBB) are prepared by coextrusion. Analysis by 13 C-NMR spectroscopy shows that little transesterification occurs during the blending process. Additional heat treatment of the blend leads to more transesterification and a corresponding increase in the degree of randomness, R. Analysis by differential scanning calorimetry shows that the as-extruded blend is semicrystalline, unlike PETBB15, a random copolymer with the same composition as the non-random blend. Additional heat treatment of the blend leads to a decrease in the melting point, T m , and an increase in glass transition temperature, T g . The T m and T g of the blend reach minimum and maximum values, respectively, after 15 min at 270°C, at which point the blend has not been fully randomized. The blend has a lower crystallization rate than PET and PETBB55 (a copolymer containing 55 mol % bibenzoate). The PET/ PETBB55 (70/30 w/w) blend shows a secondary endothermic peak at 15°C above an isothermal crystallization temperature. The secondary peak was confirmed to be the melting of small and/or imperfect crystals resulting from secondary crystallization. The blend exhibits the crystal structure of PET. Tensile properties of the fibers prepared from the blend are comparable to those of PET fiber, whereas PETBB55 fibers display higher performance.