Passive radar network systems utilize multiple transmitters of opportunity and multichannel receivers to offer remarkable performance improvement due to the advantage of signal and spatial diversities. The frequency modulation (FM) commercial radio signals have become attractive for passive radar applications owing to their wide-spread availability and the favourable Doppler resolution. In this paper, two transmitter subset selection schemes, balancing the trade-off between target parameter estimation accuracy and infrastructure utilization, are proposed for FM-based passive radar networks. In the first, the subset size of selected transmitters employed in the estimation process is minimized by effectively selecting a subset of transmitters such that the required target parameter estimation mean-square error (MSE) threshold is attained. In the second, an optimal subset of transmitters of a predetermined size κ is selected such that the estimation MSE is minimized. These problems are formulated as a knapsack problem (KP), where the coherent Cramér-Rao lower bound (CRLB) is used as a performance metric. Both transmitter subset selection schemes are tackled with greedy selection algorithms by successively selecting transmitters so as to minimize the performance gap between the CRLB and a predetermined MSE threshold or a predetermined subset size. Numerical simulations demonstrate that the problem of transmitter subset selection is not only a function of the transmitted waveforms but also of the relative geometry between the target and the passive radar network systems, which leads to reductions in both computational load and signal processing costs.