Poly(2-cyano-5-methoxy-1,4-phenylenevinylene), PCMPV and a series of PPV copolymers containing 2-cyano-5-methoxy-1,4-phenylenevinylene (CMPV) units were prepared via the water-soluble precursor method. They were obtained in films form and were easily doped with $FeCl_3$. Doping of undrawn and drawn films of PCMPV homopolymer with $FeCl_3$ led to conductivity of $10^{-5}-10^{-4};Scm^{-1}$. Conductivity of $FeCl_3$-doped copolymer films ranged from $10^{-3}$ 4.0 Scm$^{-1}$ depending on composition. As the content of CMPV units in the copolymer increased further, the electrical conductivity steadly decreased. Electronic effect by the CN substituent and morphological changes brought by copolymerization appear to interplay intricately resulting in the observation of a maximum conducting composition.