With more and more new mobile devices (such as mobile phones, tablets, and wearable devices) entering people’s daily life, along with the application and development of relevant technologies based on users’ location information, location based service is becoming a basic service demand of people’s life. This paper puts forward a research on location technology based on frequency modulation band digital audio broadcasting (FM China Digital Radio, FM-CDR). A new method of adding timestamp information to the FM-CDR frame structure is proposed, which verified that the change to the system does not affect the normal transmission and reception of broadcast content under the original standards and can accurately extract the recognition signal and timing information of BS. In the complex environment, the estimation algorithm of signal parameters such as received signal strength (RSS), time of arrival (TOA), and time difference of arrival (TDOA) of terrestrial radio broadcast signals is studied. In this paper, a new method based on multisource data fusion is proposed, which can meet the need of localization in various environments and overcome the deficiency of single localization method.