Passive coherent location (PCL) radar systems that use single FM radio channel signal as illuminator of opportunity have limited range resolution due to low modulation bandwidth and high dependence on the content that is being broadcasted from the FM station. An improvement in range resolution is obtained by using multiple adjacent FM channels, emitted from co-sited transmitters, which is often the case in large towns in countries, where the FM channel allocations are relatively weakly regulated. The proposed scheme computes the autocorrelation function of the signal directly received from the FM co-located transmitter, and compares it to the cross-ambiguity function, obtained from direct and target scattered signals. The geometry of the problem is like in the case of monostatic radar. The range information is obtained by the delay between the cross-ambiguity function and the autocorrelation function. It is shown that down to -37dB signal to noise ratio (SNR) the autocorrelation function of 7 FM channels with different contents can be successfully extracted from the cross-ambiguity function. The detection of the time delays is a linear estimation problem. The issue of time-delay estimation is a known topic of research. A powerful estimator can be found.