I love the History Channel's "Ancient Aliens" series as a way of teaching skepticism regarding sources to the ESL history classes I teach on occasion. However, while there is much the TV series exaggerates, misleads, and downright lies about, is there any information that corroborates this theory?
No.
If you're interested in analyzing specific evidences presented on the show, I'm sure one of us would be up for it. But overall, the theory is based on sensationalism, selective use of sources, ignorance and inexperience with primary research methods, presumptuous mistrust in authority (a silly concept I like to call "democratization of knowledge"), haughty presentism, and the History Channel's desperate need to make money.